http://www.allocatesoftware.com/

Allocate Software plc is the leading workforce optimisation and compliance software applications provider for organisations with large, multi-skilled workforces. With a blue chip client base spanning the public and private sector, its key vertical markets include: Healthcare, Defence and Maritime Offshore Oil and Gas.
At the core of the business is Allocate’s workforce optimisation software, which streamlines the whole workforce management of multi-disciplinary groups, across diverse locations.

Headquartered in London, it employs around 300 people providing services and support to its increasing international customer base through regional offices in the UK, Australia, Malaysia, Sweden and the USA.

Allocate is quoted on the London Stock Exchange (AIM: ALL) and is incorporated in the United Kingdom which is its principle country of operation.

Final results Monday.

UPDATE - Allocate Software hits new records as NHS demand grows

By Philip Whiterow

July 21 2014, 3:40pm
The software group now has 147 major agreements in UK hospitals.
The software group now has 147 major agreements in UK hospitals.


--adds broker comment, more detail --

Tighter control of hospital staffing has led a surge in orders for Allocate Software’s (LON:ALL) new SafeCare product.

Allocate only launched SafeCare late last year but the number of UK hospitals using it has rapidly risen to 37.

An overhaul of NHS staffing policies following the Mid-Staffs scandal and various reports into what went wrong boosted Allocate’s business all round.

Overall, 147 major agreements with UK hospitals were signed across its product portfolio during the year, demand that led to a record year for earnings and 19% growth in UK revenues, which exceeded both the company’s own expectations as well as the markets’.

Ian Bowles, Allocate’s chief executive, said: “The number of new healthcare customer agreements for HealthRoster, Cloud and SafeCare exceeded management expectations, primarily because our suite of applications is so closely aligned with the needs of the NHS.”

He added the company had worked with its NHS customers, especially nursing directors, to analyse how the staffing changes proposed last year would affect staff roles and had tailored its products to meet these needs.

Total revenue increased by 8% to £40mln (2013: £37.1mln) in the year to May, while underlying profit (EBITDA) jumped by 44% to 6.9mln.

At the pre-tax level, Allocate swung to a profit to £2.89mln from a loss of £2.39mln, while net cash climbed to £13.7mln (2013: £9.1mln). The dividend for the year rises 10% to 1.45p per share.

Bowles said revenue, EBITDA and cash rose to their highest ever levels, with the EBITDA margin progressing by four percentage points over 2013.”

Iit was also its most balanced performance as there was not one significant transaction and the Australia and Sweden businesses also had good years. The proportion of recurring revenues also rose to 47% of the total.

This year so far had seen the sales momentum continue, he added, with a very strong pipeline for core product Healthroster, while SafeCare’s rapid adoption had continued while more customers are switching to the cloud-based product suite.

Brokers said the latest results were stronger than they expected.

Numis noted that healthcare bookings (value of business signed) were £41.2mln or £6.5mln greater than revenue, while over 90% of new or renewed Healthroster licences were also on a term/rental basis, which is strong indicator for the furtre.

Numis expects revenues to rise to £41.9mln in the current year with underlying profits of £7.4mln. Its recommendation is ‘buy’ with a 151p price target.

Shares today were 115p.

Final Results

RNS


RNS Number : 7963M

Allocate Software PLC

21 July 2014









21 July 2014

Allocate Software plc

("Allocate" or the "Company")



Final Results for the Year Ended 31 May 2014



Record year with strong recurring revenues and EBITDA performance

Record 147 UK Healthcare transactions secured for major products



Allocate Software plc (AIM: ALL), the leading provider of workforce and compliance optimisation solutions, announces its final audited results for the year ended 31 May 2014.



Financial Highlights

§ Total revenue increased organically by 8% to £40.0m (2013: £37.1m)

§ Recurring revenue increased by 7% to £18.8m representing 47% of total revenue (2013: 47%)

§ Healthcare revenue increased organically by 18% to £34.7m (2013: £29.3m)

§ Healthcare bookings* were £41.2m, £6.5m greater than Healthcare revenue

§ Adjusted EBITDA** rose 44% to £6.9m and 17% of revenue (2013: £4.8m and 13%)

§ Diluted adjusted EPS*** was 9.0p (2013: 5.6p)

§ Net cash balance was £13.7m (2013: £9.1m)

§ Proposed dividend up 10% to 1.45p (2013:1.32p) per share

§ Statutory Profit before tax rose to £2.9m (2013: loss £2.4m)



* Bookings are defined as the total value of contracts received in the period

** Adjusted EBITDA refers to earnings before interest, tax, depreciation, amortisation, impairment, share based payments and non-recurring costs

*** Diluted adjusted EPS excludes amortisation of intangible assets, acquisition costs, non-recurring costs, impairment charges and share-based payments, adjusted for taxation



Business Highlights

§ 147 major agreements across the applications portfolio in the UK led to UK Healthcare revenue growth of 19% over 2013, exceeding management expectations

§ 16 customers selected HealthRoster, all on a term licence basis

§ The HealthRoster win rate increased to 90% (2013: 88%) with the 16 new agreements including six competitive displacements

§ 36 NHS Trusts renewed HealthRoster contracts in 2014, 32 on a term licence basis. This continues the 100% success rate and is a clear demonstration of the value the application is delivering, now reinforced by the NHS Safe Staffing agenda

§ 39 customers selected the Allocate Cloud, bringing the total number of customers for the Cloud service to 63, which is 37% of the HealthRoster installed base

§ 33 new SafeCare agreements secured, bringing the total to date to 37

§ 12 NHS Trusts selected the HealthMedics applications for the first time. There were 23 transactions for the HealthMedics products. The total number of NHS Trusts using the HealthMedics applications is now 155

§ 59 customers are now live on HealthRoster V10, including 21 customers who have migrated from HealthRoster V9 to HealthRoster V10. In addition a further 37 customers are contracted to migrate

§ The Nordics operations performed very well and Australia Healthcare business performed in line with expectations, driving increases in both revenue and profit



Ian Bowles, Chief Executive Officer of Allocate, commented:



"We have delivered a very strong performance in 2014 with growth in our core product areas and in multiple geographies. Revenue, EBITDA and cash increased to their highest ever levels with the EBITDA margin progressing by four percentage points over 2013. The number of new healthcare customer agreements for HealthRoster, Cloud and SafeCare exceeded management expectations, primarily because our suite of applications is so closely aligned with the needs of the NHS. The NHS focus on safe staffing has increased the level of interest from Trusts seeking support as they continue to focus on driving efficiencies and improving the quality of care delivered. Our international operations continue to strengthen providing an additional platform for future growth.



We closed the 2014 financial year well, carry a strong momentum in to 2015 and look forward to continued success in the future."

FURTHER IRREVOCABLE UNDERTAKING RECEIVED

RNS


RNS Number : 2826U

Acorn Bidco Limited

14 October 2014






NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM, CANADA, AUSTRALIA, JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

14 October 2014

RECOMMENDED CASH OFFER

for

Allocate Software Plc ("Allocate")
by

Acorn Bidco Limited ("Bidco")

FURTHER IRREVOCABLE UNDERTAKING RECEIVED



Further to the announcement regarding the recommended cash offer for Allocate by Bidco this morning (the "Announcement"), Bidco has received from Artemis Investment Management LLP an additional irrevocable undertaking to vote in favour of the Scheme at the Court Meeting and the Special Resolution to be proposed at the General Meeting in respect of a total of 6,000,000 Allocate Shares, representing a further 8.8 per cent. of the issued ordinary share capital of Allocate on 13 October 2014, being the last practicable date prior to the date of this announcement.

Accordingly, Bidco has received irrevocable undertakings to vote in favour of the Scheme at the Court Meeting and the Special Resolution to be proposed at the General Meeting in respect of 38,190,264 Allocate Shares representing, in aggregate, approximately 55.9 per cent. of the issued ordinary share capital of Allocate on 13 October 2014, being the last practicable date prior to the date of the Announcement.

A full schedule of irrevocable undertakings received is set out in the appendix to this announcement.

Capitalised terms in this announcement shall have the meaning given to them in the Announcement, unless otherwise defined.

Allocate Software agrees offer by Acorn Bidco

StockMarketWire.com

Acorn Bidco has agreed a 153.55p per share offer for Allocate Software, valuing the company at around £109.6m.

The offer represents a premium of approximately of 35.3% to last night's closing price of 113.5p.

Acorn Bidco says it has received irrevocable undertakings to vote in favour of the scheme in respect of 32,190,264 issued Allocate shares representing - approximately 47.1% of the total.



Story provided by StockMarketWire.com

Cancellation - Allocate Software plc
RNS
RNS Number : 9553B
AIM
13 January 2015



NOTICE



13/01/2015 7:00am



NOTICE OF CANCELLATION OF ADMISSION TO TRADING ON AIM



ALLOCATE SOFTWARE PLC



At the request of the company trading on AIM for the under-mentioned securities has been cancelled from 13/01/2015 7:00am.



ORDINARY SHARES OF 5P EACH, FULLY PAID