LONDON (Alliance News) - Microgen PLC on Monday said its interim pretax profit edged up as growth in revenue was partially offset by higher costs. The software and services provider pushed up its dividend in response.
Microgen said it made a GBP3.8 million pretax profit in the six months to the end of June, slightly up from GBP3.7 million a year earlier. Revenue grew to GBP19.5 million from GBP15.8 million, but this was mostly offset by higher operating costs and exceptional charges.
Revenue was pushed higher by two big US contract wins for its Aptitude Software division in the first half, which resulted in revenue in that division rising 34% year-on-year and has provided strong visibility for the second half of 2016.
Microgen Financial Systems, meanwhile, saw revenue grow 11% year-on-year, helped by the acquisition of Infoscreen (Cyprus) Ltd, which strengthened its position in the trust and fund administration segment.
Microgen declared an interim dividend of 1.5 pence per share, up from 1.4p.
"With the group's high level of recurring revenue and clarity of strategic focus, Microgen is well placed as it enters the second half of the year," said Microgen Chairman Ivan Martin.
Shares in Microgen were up 1.1% to 142.50p Monday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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