IMO.L Share News (IMO)

Technology group IMImobile said trading in the year to ending in March was in line with expectations.Analysts at Morningstar and WH Ireland expect the group to company to post a 28.3% increase in annual pre-tax profit to £6.8m.New contract wins and steady growth in recurring revenues will "position the group favourably for further growth in future periods", IMImobile said on Thursday.The London-listed company said that, excluding acquisitions, profit in Europe grew 25% on the back of higher revenue, while the acquisition of TextLocal has boosted the businesses.IMImobile added that growth in its managed solution business in Africa and the Middle East helped offset a decline caused by exceptional license revenues in the previous year."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 on Thursday.IMImobile shares were up 4.56% to 123.90p at 11:11 on Thursday.