LONDON (Alliance News) - D4T4 Solutions PLC on Tuesday said it swung to a profit in the first half of its current financial year, as revenue jumped on improved product sales.
The IT service management company said it swung to a pretax profit in the six months to September 30 of GBP3.9 million compared to GBP581,000 loss reported for the first half of its financial 2018.
Revenue almost tripled to GBP14.0 million from GBP4.8 million year-on-year, as it focused on selling its products via partners that have global reach and penetration in its target market sectors.
On a divisional basis, revenue from own products multiplied to GBP6.4 million from GBP826,000 the year prior, while revenue from third-party products grew to GBP3.6 million from GBP453,000.
D4T4 Solutions highlighted that the growth in both divisions was primarily a result of the company's previous investment in sales, marketing and pre-sales across the US, Europe, the Middle East & Africa regions.
The Delivery Services revenue rose 16% to GBP1.3 million, with Support & Maintenance revenue up 16% to GBP2.7 million.
D4T4 Solutions declared an interim dividend of 0.7 pence a share, up 12% year-on-year.
"Overall, our business is in a good position and together with a strong pipeline of opportunities makes this an exciting time for the business," said Chief Executive Peter Kear.
"Combine this with the people, skill set, and the flexibility to keep moving forward, we remain
confident of delivering on management expectations for the financial year," added Kear.
D4T4 Solutions shares were trading 4.2% lower on Tuesday at 196.00 pence each.