Danish financial and business software developer Navision Software A/S says it has increased its revenue projection for the current fiscal year, which ends on June 30 1999. The company expects to report revenue for the year of DKr600m ($85.5m), up from DKr258.7m ($36.8m) in the previous 12 months.
Navision also said it expects an increase of 13% to 15% in net margin for the current year, an improvement on the 11.1% achieved in fiscal 1997/98. If confirmed, the company will be able to report a net profit of DKr78m to DKr90m ($11.1m to $12.8m) for the year. In its first fiscal half, ending December 31 1998, the company reported net profit up 100%, at $7.3m, on revenue up 128% at $40m.
The Copenhagen-based company describes its flagship product, Navision Financials, as an ‘enterprise business solution’ rather than an ERP package, not least so as to avoid direct comparison with the likes of SAP and Baan. It has also so far managed to avoid confrontation with these by selling to medium-sized companies with annual revenue of between $5m and $250m.
Navision floated on the Copenhagen stock exchange in March (CI No 3,613) after an initial public offering that raised some $40m for international expansion and strengthening its cash position.
