I am pleased to announce a great start to the year for the Asia-Pacific team. Revenue for the 6 months to June was up 17% on the same period in 2005. Significantly, this has been achieved with a lower headcount, resulting in a revenue/employee improvement of 27%.
Both services and SUP fees are currently tracking ahead of budget for the year, with license revenues right on budget.
On a cash basis, June itself was a record month, just $3,000 short on hitting our first ever $1 million month. A $1m month is a significant milestone for the growth of the AP business - back to work now to see if we can make this number before the year is out.