Norkom, which specialises in financial crime and compliance software, has reported a 37% increase in revenues for the six months to the end of September. Revenues rose to €24.2m from €17.6m the same time last year while pre-tax profits rose to €2.8m from €2.2m.
Asia-Pacific returned the strongest revenue increase with an overall 250% to €4.6m. North America also returned strong growth of 48% to €10.3m, while revenues rose by 6% to €5m in Europe.
Adjusted earnings per share rose by 18% to 3.95 cents from 3.35 cents a year ago.
Norkom said that it signed on ten new clients in the six month period, including three of the world's biggest banks. It also signed its first deal in the Middle East financial services market with a sale to Dubai Islamic Bank.
The company's CEO Paul Kerley said that the company is very pleased with the strong performance in the first half of the year, given the extraordinary conditions being experienced in the global financial markets.
'Norkom is not immune to the impacts of the global financial crisis, although we expect to benefit in the medium-term for a push for greater regulatory oversight and an increase in demand for solutions that help financial institutions manage risk at a more granular and in real-time', he said.
He said the company now expects to deliver growth in revenues and earnings in the region of 20% for the full year to March 2009.
