Last checked at (Sharecast News) - Software-as-a-Service provider Dotdigital said on Thursday that the Covid-19 pandemic has had a "minimal impact" in the final quarter of its financial year due to a high level of contracted recurring revenues.
Dotdigital said organic revenues from continuing operations were up roughly 12% at £47.4m, while adjusted underlying earnings from continuing operations were expected to be comfortably ahead of expectations.
Adjusted operating profits were projected to be in line with expectations.
Chief executive Milan Patel said: "We continue to operate remotely with virtually no impact on our operations and are fortunate enough that we have not had to furlough any staff or introduce any cuts because of the pandemic.
"These results demonstrate the value our customers attach to our platform, the benefits of our recurring revenue business model and our ability to withstand a severe macro-economic shock. Against a challenging backdrop, we have continued to deliver strong growth, profitability, and cash generation. Uncertainty is likely to persist for some time, but as the world returns to some form of normality, we expect to be in a strong position."
As of 1335 BST, Dotdigital shares were up 0.71% at 111.78p.
27 Jan 2022 10:25
Canaccord Genuity lowers target price on DotDigital
(Sharecast News) - Analysts at Canaccord Genuity cut their target price on software firm DotDigital from 265.0p to 205.0p on Thursday but stated the group still appeared to be on track for profitable double-digit growth.
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