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PRODWARE REVS STRONGER IN 3Q Featured

After posting mixed results in the first half, revenue for the Prodware Group, a reseller based in France, moved up for the third quarter. Revenue for the quarter ended September 30 was about $39.1 million, an increase of 5.9 percent over last year’s corresponding period.

However, sales were down 1.4 percent on a like-for-like basis for the most recently reported three months. The total pushed nine-month revenues to approximately $140.4 million, a 2.4-percent increase but off by 2.2 percent on a like-for-like basis. For the half, Prodware reported revenue of approximately $101.2 million, an increase of 1.1 percent over a year earlier while net profit dropped 33.8 percent to about $5.7 million. Results for the half were dented by the impact of adjustments for an acquisition last year and the impact of IFRS 16.  The third quarter benefitted from international sales (outside the French-speaking area) of roughly $83.1 million, up 9.2 percent for the same quarter in 2018 with results in the Benelux and Israel singled out. Prodware, a Dynamics and Sage reseller, said it will continue to focus on the migration to cloud products while growth may also focus on acquisitions. Cloud revenue of roughly $39.9 million was up 7.8 percent.

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