(Sharecast News) - IMImobile on Tuesday swung to an interim profit as a double digit increase in revenue was driven by a strong performance on the other side of the Atlantic.
The cloud communications software and solutions provider booked a profit before tax of £0.7m for six months ended 30 September, compared with a loss of £0.1m in the same period last year, as revenue jumped by 24% to £83.0m.
The increase in turnover came after organic growth in all regions and business units, with revenue climbing by 87% to £8.3m in the Americas following the $53.2m acquisition of US-based mobile engagement platform company 3Cinteractive in August.
The AIM traded company said it had enjoyed a strong period of new client wins across all regions, as well as renewals of all major contracts and the construction of a strong pipeline of new opportunities.
Chief executive Jay Patel said: "We have made strong organic progress throughout the first half of the year and expect the positive momentum to continue through to the year end and beyond. The acquisition of 3Cinteractive provides a solid foundation in the US and we are very confident of success in this market.
"The outlook for the year is positive and we are trading in line with board expectations."
IMImobile shares were down 5.59% at 321.00p at 1247 GMT.
17 Feb 2021 16:02
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