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LONDON (Alliance News) - dotDigital Group PLC Tuesday said it anticipates its earnings before interest, tax, depreciation and amortisation, finance income and finance expenses related to share option schemes for its recently ended financial year will be slightly ahead of market expectations.
According to broker forecasts provided by Morningstar, N+1 Singer expects dotDigital to post a pretax profit of GBP5.01 million for the year to end-June, whilst FinnCap expects it to post a pretax profit of GBP4.8 million.
The software as a service and managed services company said its revenue for the year grew to GBP21.3 million, up 31.5% from the GBP16.2 million it posted a year before. Revenue growth was driven by its high margin email marketing platform, as it scored new client wins, particularly in the small enterprise and mid-market sectors.
In the UK revenue grew to GBP18.2 million from GBP14.7 million, whilst international revenue more than doubled to GBP3.1 million from GBP1.5 million, bolstered by a strong performance in the US, good early progress from its newly formed Asia Pacific operations, and strong partner relationships in Australia.
At the year end the company had cash of GBP12.3 million, increased from GBP9.3 million the year before.
"This strong performance is again extremely encouraging and illustrates that our organic growth strategy is working," said newly-appointed Chief Executive Officer Simone Barratt in a statement. Barratt took up the role in February, succeeding Peter Simmonds, who remains on the board as a non-executive director.
Barratt said the transition into the position has "gone smoothly ensuring the growth momentum and strategic direction of the business has been maintained."
Shares in dotDigital are up 0.6% at 34.46 pence Tuesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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