26 July 2012

Software group Ideagen has released its annual results for the year to 30 April and these have revealed increases in revenues, adjusted pre-tax profits and earnings per share.  Strong cash flow has resulted in net cash at the year end of £1.4m which will help to fund organic growth or acquisitions.  The company operates in a growth market and yet the shares stand on a modest rating and we have set a price target of 20p.