LONDON (Alliance News) - iEnergizer Ltd on Tuesday reported a more than doubling of pretax profit for its recently ended financial year, helped by cost management and revenue growth in its Real Time Processing and Back Office Services divisions.
For the year to end-March, iEnergizer posted a pretax profit of USD20.7 million, up from USD8.6 million, as revenue rose to USD139.7 million from USD138.9 million, mostly due to lower operating costs.
The technology and media services company said its Real Time Processing division saw revenue up 17%, whilst Back Office Services was up 9%.
Content services revenue fell 7.2% as the company looked to refocus the division on to sustainable, long term, profitable contracts, which helped lead to improved profit margins.
"Fiscal 2016 has been a year of consolidation of operations and sales efforts, and focusing on a go-to-market sales and services delivery model. The result is that the company ended the year on a much stronger financial and operational footing than at the start of the reporting period," said Chairman Marc Vassanelli in a statement.
"Revenue growth together with the leaner structure laid down in 2016 will set the company on a continued path of revenue growth and increased operating profit," Vassanelli added.
Shares in iEnergizer were up 6.8% at 47.00 pence Tuesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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