(Alliance News) - D4t4 Solutions PLC on Thursday said it has continued to trade "well" in its recently-started financial year and identified options to develop the business further.
Ahead of its annual general meeting, the computer support and services provider said it has continued to make "very good" progress following another "excellent year", which ended on March 31.
"D4T4 entered the current financial year in robust shape, and I am pleased to say that the business is continuing to trade well and in line with our expectations," said Non-Executive Chair Peter Simmonds.
The AIM-listed company highlighted that it benefits in terms of IP and recurring revenue from the repositioning of its business which focuses now on the data platform software and services market space.
Reflecting the timing of anticipated contract wins, D4t4 said it is expecting some second half bias to the year overall and remains confident regarding progress during the rest of financial 2020 and beyond.
Despite the unsettled macro-economic backdrop, the company said it has identified "many" opportunities to develop its business with existing and new customers both domestically and overseas. D4t4 said a large proportion of its business is dollar-derived, which gives it some "protection" from current sterling weakness.
"We continue to remain positive about the outlook and look forward to providing updates on contract wins and at the time of the interim results in late November," added Simmonds.
The stock was trading 4.5% lower on Thursday in London at 226.85 pence a share.