STOCKS NEWS EUROPE-Advanced Comp. Software up on results

Shares in Advanced Computer Software (ASWA.L), which provides software and IT services to the UK primary care sector, gain 2.8 percent after the company posts first-half results, with Seymour Pierce repeating its "buy" rating on the stock.

Seymour Pierce, in a note, highlights that the results reveal a striking improvement in profitability at Adastra (acquired in August 2008) -- with EBITDA up 126 percent to 2.7 million pounds -- as well as the successful integration of recent acquisitions (BSG, StaffPlan and Oak Labs).

"We expect the company to continue to generate solid organic growth within its Primary Healthcare and related markets, bolstered by strategic acquisitions which add new application or managed services capabilities," says the broker.

"Meanwhile, revenue visibility is strong with 65 percent of total revenue contracted and recurring," it says.

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