A significant increase in US business, as well as the transfer of its Hotel Technology business, has helped MAID increase its first quarter revenues by 51% to £6.8 million. There was also a huge boost in pre-tax profits, which rose to £2.3m from a £1.4m loss in 1996.
New customer gains in the quarter rose 62% year on year to 650, with the majority of these coming from the US. The company also expects to profit from a new venture with the Internet search engine Alta Vista. As part of this the two companies will develop and market a range of corporate Intranet and general Internet software which will fuse MAID’s Infosort data indexing tools and the Alta Vista search engine.
Another new product being planned is the Profound LiveWire, which consolidates 27 newswires under a fixed price service.
MAID: 0171 930 6900
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