RNS Number:1443U
Staffware PLC
13 January 2004



13 January 2004

                         Staffware plc ("Staffware")
                    Full Year and Fourth Quarter 2003 Update

                      Record Profitability, Sales and Cash


Staffware ("the Company"), a global leader in Business Process Management (BPM)
software, today announces an update on its trading performance in respect of the
year ended 31 December 2003, as follows:-


*  EBITDA increased by 25% to a record of approximately #5 million for
the year (2002: #4 million).



*  We continue to convert our EBITDA to cash, after allowing for on
market purchases of Staffware shares for the Employee Benefit Trust of #1.25
million and dividends paid in the year of #1.1 million. Cash balances increased
by approximately #2.5 million over the last 12 months to approximately #21.5
million at 31 December 2003.  The Group has no material debt.



*  Sales revenue for 2003 was up approximately 10% to approximately #43
million (2002: #39 million) including fourth quarter sales revenue up
approximately 7%, resulting in the fourth consecutive half year of sales growth.



*  Licence revenues for the year were approximately #22 million,
representing approximately 50% of total sales revenue (2002:  #21.6 million,
representing 55% of total sales revenue). Sales of BPM licenses have reached
record levels of approximately #16 million, an increase of approximately 125%
compared with 2002.



*  Record revenues from our profitable Americas business of approximately
$10 million, representing approximately 25% growth over 2002 in local currency.


*  Annual maintenance revenues were approximately #12.7 million (2002:
#9.1 million), an increase of approximately 40%.  This represents approximately
30% of total revenues, compared with 23% in 2002, an encouraging trend
reflecting both our growing customer base and the longevity of our customer
relationships.


*  Average licence order value by customer for the year increased to over
#100,000 for the first time, an increase of over 10% compared with 2002.


John O'Connell, Chairman and CEO of Staffware plc commented:


"This has been a profitable year once again, notable for the increase in our
international spread of sales, with approximately 70% of our revenue outside of
the UK, compared with 65% in 2002.


"During the year we have strengthened our position in our targeted markets
including Financial Services and Telecoms and have pioneered the take-up of BPM
in emerging markets, such as in Poland.  Our progress in the USA is especially
pleasing and provides the Company with a solid platform for continued organic
growth and the potential for acquisitions in America going forward.  We are
optimistic about our current prospects.  This is despite the fact that decisions
by potential customers on the uptake of Enterprise sized BPM software are often
protracted due to their internal approvals processes.  We feel we are well
positioned to grow in our target geographic and industry sectors, whilst
maintaining tight cost controls and cash management. We therefore look forward
to continued success."


The above figures for 2003 are unaudited. Staffware expects to release its
audited preliminary results for the year ended 31 December 2003 during March
2004.



For further information, please contact:
Staffware plc (www.staffware.com)                     +44 (0)1628 786 800
John O'Connell, Chairman & Chief Executive Officer
Tim Perks, Chief Financial Officer

Citigate Dewe Rogerson                                +44 (0)20 7638 9571
Toby Mountford/Sara Batchelor/Fiona Bradshaw




                      This information is provided by RNS
            The company news service from the London Stock Exchange
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