(Sharecast News) - Data solutions firm D4T4 Solutions said on Monday that following a "strong second half", full-year group revenues and adjusted pre-tax profits were both expected to be approximately ahead of prior expectations.
D4T4 said revenues for the year ended 31 March were anticipated to be approximately £22.8m, while adjusted pre-tax profits were projected to be £4.2m, comfortably ahead of previous forecasts.
The AIM-listed group stated it was "a very pleasing result" stated that as it moved into the new trading year, it was taking with it record levels of recurring revenue, with year-end annual recurring revenues up 11% year-on-year to £10.6m.
Cash generation during the second half of the year was also said to have been strong, resulting in an increase in the group's year-end cash position to approximately £14.2m from £12.8m. The group also had no debt at the year-end and had not participated in any government Covid-19 business support schemes.
Chief executive Peter Kear said: "The D4T4 global team has performed incredibly well during a most unusual year. Our strategy continues to deliver and is reflected in our strong overall growth and the improving visibility in the increasing level of ARR.
"The business enters the new financial year in robust shape after closing a number of significant contracts in the second half of the year; we are highly confident in the outlook for FY22 and beyond."
As of 0820 BST, D4T4 shares were up 6.57% at 340.50p.
21 Aug 2020 16:00