27th Oct 2015 10:39
LONDON (Alliance News) - Dods (Group) PLC Tuesday said it swung to a profit in the first half of its financial year as it boosted sales and gross margin through its "transformational initiatives".
The information, events and publishing company said it made a pretax profit in the six months ended September 30 of GBP113,000, having suffered a GBP1.2 million loss in the first half of the prior year.
Revenue rose to GBP9.3 million from GBP8.4 million, while gross margin improved to 36% from 25%.
"The board is pleased to announce that the company achieved the plan outlined for the business in the first half of the fiscal year. The financial performance improvement is a result of the past nine months of transformational initiatives," Chairman Cheryl Jones said in a statement.
"In the second half of the year, management will be keenly focused on resource effectiveness, maintaining and leveraging the efficiencies gained through restructuring, and further developing marketing and sales programmes to accelerate revenue growth and capture market share," Jones added.
Shares in Dods were untraded on Tuesday morning, last quoted at 9.10 pence.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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