Spectec Posts 2008 Results

Tuesday, March 17, 2009

SpecTec Group aggregated results (the sum of all revenues of all companies in the Group) have reached $47.8m, compared to $42.6m in 2007, with a growth of 12.16%. In the same period, consolidated revenues have grown by 12.9%.

SpecTec’s growth in revenue has been of 53.7% since the acquisition from Xantic in 2005. The group closed 2006, 2007 and 2008 with profit.

In the period 2005 to 2008, the company equity grew 28 %.

During 2008, the company has been cash flow positive and has not had to use any corporate bank overdraft facility, even considering the heavy investment due to the creation of the new suite of products, AMOS2.

AMOS sales have grown by 26.5%compared to 2007, and by 41% compared to 2006.

All companies in the SpecTec Group are audited by Deloitte. 2008 audits will be performed by mid 2009, and be available towards the end of the second semester of 2009.

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