29th Jul 2019 11:42
(Alliance News) - GlobalData PLC on Monday said the acquisition of Research Views helped it to swing to profit in the first half of 2019 as it saw double-digit revenue growth.
The data analytics and consulting company said it swung to profit of GBP5.2 million in the six months to the end of June compared to the GBP4.2 million loss reported a year earlier, as revenue rose 18% to GBP88.5 million from GBP75.0 million. Organic revenue growth was 10%.
"The first half results reflect the product development and integration since the acquisition of Research Views in April 2018," explained Chief Executive Mike Danson. GlobalData purchased Research Views Ltd in an all-share deal worth GBP99.8 million.
GlobalData is paying an interim dividend of 5.0 pence per share, up from 3.5p paid a year before.
Looking ahead, the AIM-listed company said it has started the year well and it is confident that it will make further progress for the year as a whole.
"We look forward to the second half of 2019 in which we expect to further leverage the GlobalData platform, and we do so on the back of some very encouraging metrics in the first six months. Our results demonstrate the focus we have placed on our business model fundamentals and show the group at an inflection point with further accelerated growth and margin improvement expected across the medium term," added Danson.
GlobalData shares were trading 2.6% higher on Monday in London at 880.00 pence each.
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