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Kingdee software sales harden
( 2003-08-12 11:01) (China Daily)

Mainland-based Kingdee International Software Group said yesterday its software orders currently amount to 50 million yuan (US$6 million), an increase of 50 per cent from a year ago.

Chairman Xu Shaochun said this yesterday, adding more orders worth 400 million yuan (US$48 million) are being negotiated.

The Hong Kong-listed company, which produces and sells enterprise application software, announced a first half profit of 14.52 million yuan (US$1.75 million) last Friday, an increase of 11 per cent compared with the previous corresponding period.

The software firm, which was hit by the outbreak of SARS, said demand for enterprise application software rose significantly after the containing of the epidemic in June.

Kingdee will release a number of new products in the second half of this year in view of more satisfactory market conditions, said Xu. It expects net profit for the second half of the year will be more satisfactory.

Kingdee hopes to achieve sales of US$500 million by 2010 and become one of the top-ten software manufacturers in the world, said Xu.

The software firm has HK$112 million (US$14.5 million) cash on hand, and the gearing ratio is 36 per cent.

The management also intends to increase the weight of its international business from 1 per cent to 5 per cent within the year.

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