Arcontech Group Interim Profit Rises As Revenue Jumps 13%

LONDON (Alliance News) - Arcontech Group PLC on Wednesday reported increased pretax profit on the back of higher revenue.

Shares in the company, which supplies real-time financial market data tools, were trading up 12% at 143.90 pence each.

For the six months to the end of 2018, Arcontech posted pretax profit of GBP452,756 compared to GBP237,581 a year ago. Revenue jumped 13% year-on-year to GBP1.4 million from GBP1.2 million, reflecting growth in recurring annual licence fees.

"The board is pleased with Arcontech's growth in revenue and adjusted profit before tax," Chair Richard Last said. "Our sales cycle is often long and unpredictable however we remain positive about the group's long term prospects and the board expects results for the full year to be in line with expectations."

Looking ahead, the company said that current trading remains in line, with the company on track to meet management's full-year expectations.

No interim dividend was proposed in respect of the half-year.