LONDON (Alliance News) - Digital publishing company iEnergizer Ltd said Friday its revenue and profit grew in the first half of its financial year, but reported a drop in adjusted earnings.
AIM-listed iEnergizer reported a pretax profit for the six months to September 30 of USD10.2 million, up from USD9.3 million the prior year. Revenue for the period increased slightly year-on-year to USD71.5 million from USD68.9 million.
iEnergizer put its adjusted earnings before interest, tax, depreciation and amortisation at USD16.4 million, slightly lower than previous year's earnings for the same period of USD16.6 million.
iEnergizer said that during the period it cut its "other expenses" by more than 17% to USD4.8 million from USD5.8 million year on year, through rationalisation of overheads.
"Reflecting the continued focus on recurring revenue streams from business critical processes and long term customer relationships, with both existing and new customers, we see real progress with the performance in the first half of this financial year, demonstrated by the growth in revenue, operating profits and profits before taxes," said Marc Vassanelli, chairman of iEnergizer.
"We expect current market trends to continue through the second half of the year with a continuing focus on underlying operating margins," added Vassanelli.
By Adam Clark; adamclark@alliancenews.com
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