24th Feb 2016 09:42
LONDON (Alliance News) - Arcontech Group PLC on Wednesday said its pretax profit pushed higher in the first half thanks to growth in revenue and costs remaining under control.
The company, which provides real-time financial markets data processing and trading services, said its pretax profit for the six months to the end of December was GBP209,660, compared to GBP116,932 a year earlier.
Revenue ticked up to GBP1.1 million from GBP1.0 million a year earlier, but gross margins improved as costs remained broadly flat in the half.
The company said the sales cycle is taking longer than it would like at present, but it does expect new sales wins to improve as it releases new products. Arcontech said it remains on track to meet its expectations for the full year, despite lost revenue from the termination of a client contract in Asia.
Arcontech shares were up 6.7% to 0.2775 pence Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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