Ramesys 'fantastic year' in construction division

The construction division of Ramesys, the IT software group, has generated an operating profit of £2.3m, equal to the previous year.
"In construction, we have had a fantastic year," said Richard Wingfield, finance director, "and we are looking to more of the same next year. We've taken out cost and passed the savings on to customers.
"In construction, the best growth area for us has been among mid-sized companies, with turnovers of between £5m and £15m. Discussions with these potential new clients typically start with the finance director.
"We are market leader in back-office ERP-type systems that are specific to construction, for example in project management and facilities management. These are our core offerings. It is a fantastic testimony that we have held our operating margins."
However, the group made an overall pre-tax loss. "That's because of the high level of goodwill amortisation from previous acquisitions," said Wingfield, "and the high interest bill from our debts."
Turnover (12 months to 31 May 2003) was down at £60m (£70m). Wingfield declined to put a figure on the pre-tax loss, but was happy to reveal a group operating profit of £6.1m (£4m).