(Alliance News) - Dods Group PLC on Tuesday reported a revenue rise but swung to a first half loss on depreciation costs.
In the six months to September 30, the business technology and publishing company delivered a 17% year-on-year revenue hike to GBP12.5 million from GBP10.7 million.
It swung to a pretax loss of GBP303,000 from a GBP378,000 profit last year.
Depreciation of tangible fixed assets rose by 31% to GBP243,000 from GBP185,000 last year. Dods also recorded in excess of GBP500,000 in depreciation of right-of-use assets, against none last year.
The company operates PoliticsHome, a UK political-focused news and analysis website. During the period, unique visitors were up by 63% to 6.7 million with page views more than doubling to 10.4 million.
Dods said: "During the period the group secured a number of notable contracts including those with Oracle Corp, Fuji Film Holdings Corp, C.H. Boehringer Sohn AG & Ko. KG, General Electric Corp, Google and the Coca-Cola Corp and extended a contract with UK Government to provide Civil Service Live to October 2020."
Dods also competed the GBP22.4 million acquisition of software company Meritgroup Ltd during the period.
Chair David Hammond said: "The group continues to deliver quality products and services in a challenging environment. The addition of Merit has enabled us to diversify and increase our recurring revenue base. Notwithstanding the current cautious outlook, the board views the group's medium to long-term prospects with confidence."
Looking to the rest of the year, Dods said it was cautious about its outlook, due to political and economic uncertainty.
Dods shares were untraded in London on Tuesday morning, last quoted at 6.50 pence each.
By Eric Cunha; ericcunha@alliancenews.com
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