23rd Jul 2019 11:59
(Alliance News) - Marketing automation and customer engagement platform provider dotdigital Group PLC on Tuesday guided for earnings to slightly beat expectations.
For the year to June, both adjusted earnings before interest, tax, depreciation, and amortisation and operating profit from continuing operations are to be "slightly" ahead of the market's expectations.
Revenue for the year grew 19% to GBP51.3 million, with organic revenue from continuing operations rising 15% to GBP42.5 million.
The June 30 cash balance of GBP19.3 million is also ahead of expectations, due to "effective cash conversion", dotdigital said.
dotdigital is confident on expectations for the year ending June 2020, it added, with momentum having continued into its new financial year.
Chief Executive Milan Patel said: "I am delighted to announce that the '3 pillars of growth' strategy we have in place has delivered a further year of record profitability and strong cash generation whilst expanding the reach and capabilities of the group.
"Our customers see the platform as a mission critical part of competing in today's digital environment. The proven value of our platform, combined with high levels of recurring revenue means I enter the new year with high degree of confidence."
Shares were up 2.4% on Tuesday morning at a price of 100.00 pence each.
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