RS2 has announced profit before tax of €5.1 million, a decrease of 10 per cent when compared to 2012. Tax for the year amounted to €1.7 million, comprising mainly a movement in deferred tax asset.

The company continued to benefit from the accumulated investment tax credits under the Malta Enterprise Act and, as a consequence, it registered a shift from a deferred tax asset in the balance sheet to a deferred tax liability of €1.5 million.

The board of directors recommended a net final dividend of €0.02c35 per share amounting to €1,000,000.

They also proposed a bonus share issue of one share for every 17 held. The bonus issue, amounting to 2,500,000, shares will be funded by capitalising €500,000 from the share premium reserve of the company.

Total revenue for 2013 amounted to €13.5 million representing a 6.2 per cent increase over 2012. In 2013, the revenue mix was very similar to that of the previous year, with 49 per cent of the total revenue for 2013 made up of licence fees for the use of its Bankworks product.

The cost of sales for the year ended 2013 amounted to €6.4 million, an increase of 18 per cent over the previous year.

Earnings before interest, tax, depreciation and amortisation (EBITDA) for 2013 amounted to €6.5 million, a decrease of €0.4 million.