Telework sees shares rise on results upturn

NEWS Telework's first-half turnover was up 26 per cent to £10.4m and pre-tax profits rose 93 per cent to £2.76m on the same period last year. Its share price rose from around £130 to nearly £152 following the announcement. In its results statement, the company said:"There has been a marked upturn in sales activity and prospective order pipeline." Telework listed on the London Stock Exchange on 3 August, raising £16.8m to finance acquisitions and develop products including its application service provider infrastructure. Based in Milton Keynes, the company has two divisions - Workplace, which specialises in workforce management applications, and TeleWare, which develops software for computer telephony, unified messaging and interactive voice response. Customers include Abbey National, American Express, British Airways, Cable & Wireless, Dresdner Kleinwort Benson, Lloyds TSB, Motorola, PriceWaterhouseCoopers, Reuters and Vodafone. By Candice Goodwin