A strong set of interim figures to June enabled virtual prototyping specialist Flomerics to regain some of the value it has lost in recent weeks. With technology sentiment continuing to worsen shares in Flomerics had dropped 23.9% during July. But news that first half turnover was up 32% at £6.45m and that pre-tax profits had more than doubled to £110,000 was greeted with an immediate 14p hike. Most impressively, Flomerics reported a 28% growth in sales from the US, a market notoriously difficult for software companies at present. Finance director Chris Ogle explained this phenomena by suggesting that 'companies will continue to buy our software even when the climate is bad as it helps to keep their technology at the forefront'. Flomerics' software enables the developers of electronic equipment to test their designs virtually to make sure that thermal and electromagnetic emissions remain at acceptable levels. One slight area of concern remains the disparity between sales levels in the first and second half of the year. Traditionally around 58% of revenue has been derived in the latter half, when the majority of Flomerics' clients renew their annual licences. While Ogle believes that most of these clients are 'not companies that could easily stop using FloTHERM', he admits that he is eager to see this ratio change. House broker Teather & Greenwood is forecasting a £1.45m profit for the full year.

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