LONDON (Alliance News) - Software company Crimson Tide PLC on Tuesday said it expects its earnings and profit to be ahead of market expectations in 2014, sending its shares higher in early trade.
The company said it expects its earnings before interest, taxation, depreciation and amortisation and pretax profit for the year to the end of December to be ahead of market expectations and higher year-on-year.
It said its performance in 2014 has been robust, with improved profitability and cash generation and a boost in the final quarter from the delivery of its mpro5 platform to an unnamed global food and drink company.
"2014 proved to be an excellent year of progress for the Company and as announced recently, we are in a strong cash position which gives us a platform to grow ambitiously. The opportunities in front of us are very exciting," said Executive Chairman Barrie Whipp.
Shares in Crimson Tide were up 5.3% to 1.5 pence on Tuesday morning, one of the best performers in the AIM All-Share.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Crimson Tide (TIDE)