LONDON (Alliance News) - iEnergizer Ltd on Friday said it was confident in returning to its previous growth trajectory in its financial year 2017, and expects to report full-year revenue in line with the previous year.
The digital publishing and technology company reported a pretax profit of USD9.3 million for the half year to end-September, up from USD4.8 million a year before, as a fall in revenue to USD67.3 million from USD74.6 million was offset by lower costs.
For the year to end-March 2015, iEnergizer reported revenue of USD138.9 million.
The company said Friday it focused on cost savings during the period to improve its operating profit margins. This included the consolidation of its content services division into its operations centre in Noida, India, and rationalising selling, general and administrative costs.
"Following the management actions to consolidate our operations in the prior year, we are pleased with the performance in the first half of this financial year, demonstrated by the better operating margins achieved. The company's healthy cash position, together with its cash generative business model, puts the company in a strong position to invest in both organic and inorganic growth opportunities," said Chairman Marc Vassanelli in a statement.
"We expect current trends to continue with full year revenues in line with last year and an improvement in underlying operating margins. We believe there is significant opportunity for us to continue to expand the business further using this approach," Vassanelli added.
Shares in iEnergizer were quoted at 14.0499 pence Friday morning, up 12%.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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