It commented that "Whilst the Board firmly believes that the Company has a secure future as an independent business, it recognises that further investment will enable it to more fully exploit the potential of its managed services business." Does this sound like MSP has more potential than reselling? In any event, the European reselling market has been in flux because of the debt crisis. The company has reported flat profit from operations on a 35-percent rise in revenue for the half ended December 31. Acquisitions added about $8.3 million from five first-half purchases and from the increase from businesses acquired a earlier. Pre-tax profit was about $5.2 million and profit from operations was about $6.1 million. Revenue was approximately $43.6 million based on current exchange rates between the dollar and the euro. Besides selling Syspro, K3 also handles Dynamics AX and Sage 200. It reported revenue growth in all four divisions: Microsoft U.K., Syspro and Sage, international, and managed services. No figures were broken out. Via its managed services operations it is now hosting Sage 200, Syspro and Dynamics NAV. The company said it had also invested about $700,000 in AX and managed services.