RS2 Software plc has slightly improved its performance over last year, according to the company’s interim financial statements for the period ended June 30.

During the first six months of this year, the company managed to further increase its client base and saw a general improvement in the extent of services requested by its clients.

Total revenues generated by the company amounted to €2,839,592, representing an increase of six per cent over the same period last year Profitability also improved with profit for the period amounting to €325,737, representing a 32 per cent increase over 2009. Net profit margin after taxation reached 11 per cent, compared to nine per cent in 2009.

A company statement said that since June 2009, the group has continued to strengthen its presence in the US through its subsidiary, Transworks. The subsidiary is still in its early years and actively working to secure new business.

“This has reduced the group’s profitability to €137,555 from the company’s overall profit for the period of €325,737,” it said.

EBITA and earnings per share for the group stood at €471,207 and €0.08 respectively, when compared to EBITA of €593,415 and earnings per share of €0.009 for the company.

The group is principally engaged in the development, installation, implementation and marketing of specialised computer software for financial institutions, under the trade mark of Bankworks. During 2009, the group expanded its operations to include the processing of payment transactions with the use of Bankworks.

“Through its marketing efforts overseas and continued investments in subsidiaries, banks in various regions are showing positive interest in Bankworks with prospective clients in the pipeline. The board of directors shall continue in its efforts to market its product and services through its subsidiaries. Although we remain cautious in our expectations, we are confident that this level of performance can be maintained throughout 2010,” the company statement said.

The company did not recommend any interim dividends.

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