iSite revenues slip slightly

The Styles & Wood UK-based IT subsidiary, iSite, which “provides clients with technology based property information solutions that store, manage and communicate critical data relating to their property portfolio and associated property activities,” has seen revenues drop in the first six months of 2012, compared to the same period in 2011.

An interim report from the parent group talks about challenging marketing conditions, but highlights: “Our strategic partnership with Tesco for the provision of iSite web based property related business systems has expanded further and we now provide support on an international basis.”

iSite generated revenues of £0.738m, and a profit of £65k in the six months to 30 June, compared to £0.786m and £186k a year earlier – continuing a squeeze on margins that I noticed when the business reported its 2011 results in April (post). This may just be a blip reflecting the volatility of the current market; the business enjoyed a better second half in 2010 (post), but 2011’s second half revenues were lower than the first.

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