LONDON (Alliance News) - D4t4 Solutions PLC on Monday said revenue is expected to have nearly trebled in the first half of 2019 financial year due to a return to "a more normal trading cycle".
Shares in the data platform solutions company were up 7.3% at 208.75 pence on Monday.
D4t4 said its revenue is expected to have been GBP14.0 million for the six months to September 30, well ahead of its GBP4.8 million revenue the year before. The timing of client contracts in D4T4's previous financial year meant that revenue was unusually weighted toward the second half, but this is no longer the case.
In the first half of D4t4's current financial year, international sales were a strong contributor, representing 89% of total sales from 60% the prior year.
Adjusted profit - which in D4t4's case is adjusted for amortization of intangibles, share based payment charges, and foreign exchange - is to be "comfortably in line" with the company's expectations, although a specific figure was not provided.
D4t4 said its net cash stood at GBP12.2 million, reflecting cash inflow post year-end.
"Overall, our business is in a good position and together with a strong pipeline of opportunities makes this an exciting time for the business. Combine these with the people, skill set, and the flexibility to keep moving forward, we remain confident of delivering on management expectations for the financial year," said D4t4 Chief Executive Peter Kear.
