Corporate news

Danware grew revenue by DKK 6.6m in 2006, equal to a 7.2% improvement over 2005. The company expects to become increasingly profitable over the next few years and will pay total dividends of DKK 9.6m to shareholders, equal to DKK 2.50 per share.

Ib Kunøe, chairman of the board of Consolidated Holdings, was on Thursday evening awarded the IT prize for 2007—The Danish IT Industry Association (ITB) tribute to a person who in a particularly outstanding way puts the focus on IT development in Denmark.

New subsidiaries in the USA, the UK and Germany mark an important step in software company Danware’s plans to develop strong business partner channels in its core markets. As expected, setting up the subsidiaries impacted both revenue and profit, causing Danware to lower its FY 2006 forecasts. The full effects of the new sales and distribution strategy are expected to feed through in 2007.

Danware’s profit announcement for the six months to 30 June 2006 revealed almost a 10% y/y revenue improvement. The performance is testimony to the initial results of the re-adjustment of the company’s ambitious sales strategy, including a successful establishment of a US subsidiary. Danware maintains its revenue forecast of DKK 105-120m for the full year 2006.

Danware’s key events in the first quarter were a number of company acquisitions, 3% growth generated in the EMEA region and a decision to establish wholly owned subsidiaries in the USA, the UK and Germany. The company generated net profit of DKK 1.0m on revenue of DKK 21.6m. Danware reiterates the positive expectations for 2006.