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28 Aug 2009
Financial and business software provider Mamut has released its quarter two results which show operating revenues have dropped.
The Norwegian listed company revealed that Q2 2009 operating profits dropped from 121.6 million Norwegian Krone (MNOK) (£12.4m) compared with 123.5 MNOK in Q2 2008.
Mamut showed that profits before tax had risen over the last year from 4.9 MNOK in Q2 2008 to 6.6 MNOK in Q2 2009.
The company announced that it has reduced staff from 505 in the first three months of this year to 490 in the second half of 2009. The company said it will 'continue to streamline operations and optimise routines to increase cost base flexibility combined with reduced cost, rate of investments and headcount in 2009'.
The software provider announced in a statement in its interim results that it would venture further into the online cloud computing space although it will continue to provide traditional in-house applications.
The company statement said: 'In 2009 Mamut will start to enable its platforms to leverage the benefits of cloud computing.'
'Mamut has chosen Windows Azure as our cloud computing platform', it added.
The statement went on to say: 'The first Mamut service with cloud components is expected in Q4 2009.'
Other changes over the last three months included Mamut one launching in Germany earlier this year. The software company entered a joint venture with Lexware GMbH to produce Mamut Lexware. The new service will provide technology for small businesses and has a client base of around 6,000.
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