(Alliance News) - Access Intelligence PLC on Tuesday reported a nearly tripled interim revenue figure as the company felt the positives of its Isentia acquisition back in September.
In the six months ended May 31, the company widened its pretax loss to GBP7.6 million from a GBP3.4 million loss the previous year. Revenue, however, nearly tripled in the half to GBP32.7 million from GBP11.0 million.
Access Intelligence explained this jump in revenue was primarily driven by Isentia, the Sydney-based media intelligence and insights firm acquired by the company in September for GBP19.4 million. Nonetheless, excluding the Isentia contribution, revenue still grew organically by 17% year-on-year.
"The core business has delivered continued growth in the [Europe, the Middle East & Africa] and North America region, while the recent acquisition of Isentia has created significant opportunity for the group in [the Asia-Pacfic region]," said Chair Christopher Satterhwaite.
In the EMEA and North America region, annual recurring revenue increased by GBP1.2 million to GBP28.1 million, while ARR in the APAC region reduced by GBP500,000 to GBP31.5 million. Access Intelligence explained that this remained a "marked improvement" to the pre-acquisition performance of the region, in which in the rate of decline was significantly higher.
"The group won a substantial number of blue-chip clients in the period, across every region, including significant win backs in APAC. The launch of Pulsar in Australia and New Zealand has been well received, leading to a healthy pipeline of both cross sell and new business opportunities," Satterhwaite continued.
Access Intelligence said the integration of Isentia continues to progress well and added it is currently trading in line with expectations. As a result, the company said it remains positive in its outlook for the year.
Shares in Access Intelligence were down 2.0% at 98.00 pence on Tuesday morning in London.
By Heather Rydings; heatherrydings@alliancenews.com
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