(Alliance News) - D4T4 Solutions PLC said Monday its revenue and adjusted profit in the first half were both in line with management expectations and said it remains confident in "delivering a solid finish" to financial 2020.
The computer support services firm expects to report interim revenue of GBP8.8 million for the six months ended September 30 compared to GBP14.0 million a year before. D4DT4 noted the comparison revenue figure included a one-off upward adjustment of GBP1.7 million for application of the IFRS15 accounting standard, which governs recognition of revenue from customer contracts.
"The first six months of the current financial year have seen some excellent new contract wins particularly with our hybrid Private Cloud Data Platform solution with wins at ESME loans (a challenger start-up backed by Nat West/RBS) and Urenco, a world leading nuclear fuel enrichment company," Chief Executive Peter Kear said.
D4T4 said its focus on data platform software and services "continues to deliver recurring revenue".
"Celebrus Customer Data Platform software contract wins include a capacity extension for a Chinese bank, a capacity extension for a Taiwanese bank, new functionality for a European insurer and a new European retail customer," Kear continued.
He added: "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.
"Overall, we are in a good position and the number of opportunities we are currently working on makes this an exciting time for the business."
D4T4 said it is confident of delivering a "solid finish" to financial 2020, in line with market expectations.
In financial 2019, the computer support and services provider reported a pretax profit of GBP6.3 million on revenue of GBP25.2 million.
Shares in D4T4 Solutions were 4.2% higher in London on Monday at 222.00 pence each.
By Paul McGowan; paulmcgowan@alliancenews.com
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