(Alliance News) - D4t4 Solutions PLC said Wednesday its revenue and adjusted profit in the first half was in line with internal expectations, revenue was down more than 40%.
Shares in the IT services management company were 11% lower in London on Wednesday at 194.00 pence each.
For the six months to September 30, D4t4 expects to report revenue of GBP5.1 million, down 42% from GBP8.8 million the year before.
"We have secured some excellent new contract wins in the first six months of the current financial year. We signed notable deals for our Customer Data Platform software with a range of customers including a large South American retailer and our first US healthcare company alongside extensions with a number of existing clients. We have good visibility where new contracts are currently in final negotiation," Chief Executive Peter Kear said.
He continued: "Our global partnerships are allowing us to increase our addressable market. We have also made good progress with many of our strategic initiatives and our international offering continues to go from strength to strength."
D4t4 said its focus on platform software and services "continues to successfully deliver" recurring revenue from all new wins in the first half of the year.
Looking ahead, the company remains confident in delivering a "solid" finish to financial 2021, in line with management expectations.
Kear added: "Overall, we are in a good position with a number of contracts in final negotiation and a strong pipeline with an increase in new opportunities. Based on our organic business, second half annual recurring revenues and the depth and quality of contracts in final negotiation coupled with a strong new business pipeline, we remain confident about our prospects for the full year."
By Paul McGowan; paulmcgowan@alliancenews.com
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