11 Aug 2011

Software firm optimistic about future

7:22 am on 11 August 2011

Software company Diligent Board Member Services says demand for its software is strong and it doesn't expect the current market turmoil to disrupt that.

The listed company, whose software assists company directors with their board material, made $US822.000 in the six months to June, a decrease of 56% on the same period a year ago.

The fall is due to a one-off loan repayment.

But record sales led gross profit to double to $4.7 million and Diligent's chief executive, Alex Sodi says the popularity of Apple's iPad as a device to contain board papers means interest remain strong among firms.

He says the iPad has been a big generator of new interest for the firm and he expects that to continue.

The company's shares jumped 17 cents to $1.27.

Diligent's software helps company boards keep track of their papers using the Internet and generates its income from annual subscriptions.