15th Aug 2016 13:15
LONDON (Alliance News) - Boxhill Technologies PLC on Monday reported growth in gross profit and in sales in the first half of its financial year.
The lottery and e-commerce technology provider said sales in the six months ended July 15 rose by 13% to GBP1.1 million from GBP1.0 million the year before, as gross profit grew to GBP828,000 from GBP780,411, but operating profit declined to GBP301,600 from GBP323,000 due to increased overheads as the company invested in staff and technology.
Boxhill added that it has acquired new clients for Prize Provision Services in the lottery division, while completing the bulk of its back office technology updates, allowing it to begin rolling out improvements across the business.
In the fourth quarter, Boxhill plans to introduce direct bank payments to replace traditional cheque payments, and will deliver client administration upgrades in addition to a new customer facing website.
Shares in Boxhill were trading up 18% at 0.284 pence on Monday afternoon.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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