(Sharecast News) - D4T4 on Monday hiked its interim payout even after a slow first half of the year led to sharp drops in both profit and revenue.
The data and analytics specialist booked an adjusted profit before tax of £0.7m for the six months ended 30 September, compared with £3.4m in the same period last year, while revenue dropped 37% to £8.8m.
Even so, D4T4 said it remained confident in meeting full-year expectations and raised its interim dividend by 10% to 0.77p per share.
The AIM-traded company said the declines in profit and turnover were in line with expectations and reflected a £1.1m accounting charge and the anticipated weighting towards the second half of the year as a result of the timing of contract wins.
D4T4 secured new deals for both its Hybrid Cloud Data Platform and the Celebrus Customer Data Platform and said its strategic partnerships have continued to move forward.
The company said: "Overall, our business is in a good position and together with a strong pipeline of opportunities makes this an exciting time for the group. Our prospects for H2 are strongly underpinned by a high level of contract renewals from new licences signed during the second half of last year and strong visibility on new contracts due to initiate during H2.
"This, combined with a significant pipeline of new business in negotiation with existing clients wishing either to increase the footprint of our software or to extend the use of our Hybrid Cloud Data Platform solution."
D4T4 Solutions shares were down 9.07% at 195.50p at 1320 GMT.
21 Aug 2020 16:00