8th Sep 2015 10:15
LONDON (Alliance News) - Galasys PLC Tuesday said it expects "continued success" in its second half, as it posted a rise in pretax profit for the first half of 2015.
Galasys provides software and services for the theme park industry in Asia.
The company posted a pretax profit of MYR6.1 million - equivalent to GBP918,109 at current exchange rates - for the half year to end-June, up from MYR5.0 million, or GBP751,730, a year before. Revenue rose to MYR23.5M million, or GBP3.5 million, from MYR16.4 million, or GBP2.5 million.
Galasys said it had seen continued growth in demand for its products and services from existing customers, and added new large customers including Silver Base Group and Burqin County of Xinjiang Province. Its largest contract win in the first half was the Yinji Water park in China, which produced revenue of around GBP500,000.
During the period the company launched a new product, which it called 'Intelligent Tourism Cloud Marketing Platform', which was developed and deployed for ShouXiHu, Yangzhou, China. It has since inked a deal with the Burqin County of Xinjiang to develop Intelligent Tourism, and plans to bring this platform and business model to Japan and Taiwan.
"Our sales pipeline is increasing and we expect further momentum as the group continues to expand its market coverage in China and other Asian countries," said Chief Executive Officer Sean Seah in a statement.
Shares in Galasys were down 1.2% at 32.60 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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