(Alliance News) - Automated marketing and customer engagement software firm DotDigital Group PLC boosted its final dividend Tuesday after annual profit and revenue both grew and the new financial year started well.
For the year ended June 30, pretax profit increased 26% to GBP11.0 million from GBP8.7 million the year prior. This was after revenue rose 16% to GBP42.5 million from GBP36.7 million the year before.
"The group is very excited about its financial performance and our growth opportunities, driven by investment in technology innovation, geographic expansion and strategic partnerships," DotDigital Chief Executive Milan Patel said. "With the additional investments in people across all regions it sets the foundations for scalable growth in AI infused marketing and data driven cross channel Marketing Automation. The group is especially pleased with our international performance."
DotDigital proposed a 0.67 pence per share final dividend, up 4.7% from 0.64p the year prior. The firm does not pay an interim dividend.
"Although relatively early on, the first quarter of the 2020 financial year has started well with trading in line with expectations," Patel added. "With 89% of our revenues recurring, a high proportion under contract and strong client relationships we continue to have good visibility into our earnings. We are confident in delivering continued organic growth across our core organic growth pillars."
Shares in DotDigital were 6.9% higher at 97.28 pence in London on Tuesday.
By Ahren Lester; ahrenlester@alliancenews.com
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dotDigital Group (DOTD)