25th Feb 2016 08:52
LONDON (Alliance News) - Shares in mobile software and services group Crimson Tide PLC were up 25% Thursday after it said it will beat market expectations with its pretax profit for 2015, expecting to report a figure "significantly higher" than in 2014.
The company reported a pretax profit of GBP84,000 in 2014.
Revenue will come in line with market expectations, Crimson Tide said.
Crimson Tide also expressed confidence for further growth during 2016 and beyond, saying trading in the early part of the year has been "robust".
"The company made significant strides in 2015, which was demonstrated by growth in subscribers, profits and contracted future revenues. We have created real traction in our market and have become the service provider of choice for many blue chip organisations. We are looking forward to driving the business forward and have exciting opportunities in front of us," said Executive Chairman Barrie Whipp in a statement.
Shares in Crimson Tide were up 25% at 3.50 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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