Publishing Technology To Meet Market Expectations

PUBLISHED: 17 Jan 2013 @ 04:00 | Comments (0) | More info about Kenneth G. Mondero

Online publishing solutions provider, Publishing Technology plc (LSE:PTO), expects to end 2012 in line with market expectations, the AIM-listed firm said on Monday, 14^th January.

The firm that provides digital hosting platforms to over 80% of the world’s most recognized publishers including HarperCollins and McGraw-Hill said its new products – the Pub2web and Advance – have posted significant growth in revenue whilst maintaining margins from their existing product offerings.

In July 2012, PTO reported a 6% increase in revenue though net profit has significantly decreased by 68% after the company incurred restructuring costs of around £241,000.

PTO, nonetheless, stated it will be able to recover costs and increase profit in the second half of 2012, as was usually the case.

“After many years of investment, the increasing confidence of the market in our products underlines our confidence that we have the right strategy,” PTO Chief Executive, George Lossius said in a statement.

PTO expects a continued improvement in revenue for the current year as the company reduces cost in research and development, its joint venture in China gains momentum, and the new products increase its client base.

Shares of PTO closed 1.7% higher on the London Stock Exchange to 182.50 pence after reaching as much as 188 pence earlier.

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