Crimson Tide PLC - Kent-based mobile software firm - Pretax profit more than doubles to GBP257,000 in the six months ended June 30 from GBP120,000 the year before as revenue jumps 38% to GBP1.8 million from GBP1.3 million. Mobility solutions revenue up 15% at GBP1.5 million from GBP1.3 million. Hardware sales under IFRS 15 at GBP225,000 compared to nothing year before.
Founder & Chair Barrie Whipp says: "Crimson Tide performed exceptionally well in all areas of the business in the first half. All of our management metrics were achieved and we continued to add quality, long term subscription revenues. Our product development continued, driven by opportunities within our existing and potential customer base. The business is set fair for future growth and profitability. "
Current stock price: 3.87 pence
Year-to-date change: up 61%
By Anna Farley; annafarley@alliancenews.com
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Crimson Tide (TIDE)