9th Nov 2016 10:41
LONDON (Alliance News) - Events and media services company Dods Group PLC on Wednesday reported higher pretax profit and growth in revenue for the half year to the end of September, with the bottom line boosted by better margins.
Dods said it made a pretax profit of GBP818,000 in the six months to September 30, a significant rise on the GBP113,000 it made a year before. It booked lower one-off costs in the half, following a restructuring a year earlier, and its gross margin improved to 38% from 36% the year before.
Revenue for Dods rose to GBP9.7 million from GBP9.3 million the year prior, helped by a rise in sales for its events business. New products also boosted sales for the group, including the launch of the Dods People App and Political Risk Reports.
In the half, Dods also relocated its main office to The Shard, near London Bridge.
"Management's priorities continue to be; realigning market-facing activities for greater effectiveness and increased market share, repositioning Dods' resources to further enable efficient product and service innovation, leveraging the shareholders' investment in technology, and pursuing acquisitive growth," said Cheryl Jones, chairman of Dods.
"The board of directors believes that these priorities will enable the group to make significant progress to becoming the outsourcing partner of choice to its markets," Jones added.
Shares in Dods were down 6.4% to 12.75 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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