Paul Grant, Accountancy Age, Thursday 28 October 2010 at 09:44:00

Third quarter results for financial software company Mamut show 60% increaseon last year


Financial software company Mamut has continued to increase its earnings,despite static revenue growth.

The company reported third quarter earnings before interest and tax ofNorwegian krone (NOK) 4.6m (494,000), a 60% increase on the same period lastyear. This was achieved despite a small drop in revenue to NOK 113.4m from NOK113.8m in Q3 2009.

This follows on from a 27% increase in profits in the second quarter, also onfalling revenues.

The company said it sees ?considerable growth potential? following the launchof Mamut One in combination with existing customer bases in acquired companies.