LONDON (Alliance News) - IS Solutions PLC on Monday expressed confidence in meeting market expectations for its current financial year, as it upped its dividend and reported a rise in pretax profit.
The software and services company proposed a final dividend of 1.5 pence for the year to end-March, resulting in a total dividend of 2.00p, compared to a total dividend of 0.56p for the comparative period.
IS Solutions reported a pretax profit of GBP3.2 million, up from GBP652,000 for the fifteen months to end-March 2015, on revenue of GBP18.6 million, up from GBP12.8 million.
The company plans, subject to shareholder approval in July, to rename and rebrand itself as D4t4 Solutions PLC as it continues to shift its focus towards data analytics.
"Over the last twelve months, we have seen strong demand for our offering across both brands which has manifested in the number of major projects being secured with new and existing customers operating within the retail and financial services sectors," said Chairman Peter Simmonds in a statement.
"In addition, these new projects will generate recurring revenue, which is very reassuring in terms of cashflow and working capital. It is encouraging to report that in 2016 demand continues for our services; we are in dialogue on a number of other exciting projects and this underpins our confidence in our pipeline of prospects," Simmonds added.
Shares in IS Solutions were up 2.7% at 116.00 pence Monday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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