LONDON (Alliance News) - Technology firm IMImobile PLC said Thursday it has traded in line with expectations in the year to end-March, and expressed confidence for a year of strong trading ahead.
According to forecasts provided by Morningstar, WH Ireland expects IMImobile to post a pretax profit of GBP6.8 million for the year, compared to GBP5.3 million a year before.
The company said that new contract wins during the year and growth in recurring revenues will "position the group favourably for further growth in future periods".
IMImobile highlighted strong profit growth excluding acquisitions of 25% in Europe, due to higher recurring and professional services revenues. Its acquisition of TextLocal has boosted the businesses performance, and has been successfully integrated, IMImobile said.
In the Middle East and Africa, growth in its managed solutions business has helped offset a decline caused by exceptional license revenues in the previous year not recurring.
In India and South East Asia, declines in the managed solutions business that IMImobile saw in its first half have reduced throughout the second half, and have now been partly offset by growth in its software-as-a-services business.
"The board remains confident of a strong trading year ahead, with the group remaining well positioned to take advantage of consolidation opportunities across the industry," the company said in a statement.
Shares in IMImobile are trading up 4.6% at 124.00 pence Thursday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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