25th Feb 2015 10:03
LONDON (Alliance News) - Call centre provider and outsourcing company IBEX Global Solutions PLC on Wednesday turned to profit in the first half of its financial year on the back of a rise in revenue and declared an interim dividend along with a share buyback plan.
IBEX said its pretax profit for the six months to the end of December was USD8.1 million, compared to a USD0.3 million loss made a year earlier.
Revenue rose by 35% in the half, up to USD123 million from USD91 million, boosted by the timing of profitable project work and by a rise in its recurring top line run rate.
The rise in profit pushed the group to declare an interim dividend of 6.8 cents per share and the company said it would launch a USD1 million share buyback over the next six months, to be funded from surplus earnings.
The group said it is trading in line with its expectations for the full year.
"The current half year results represent an acceleration of the growth attained during the prior period, and I believe the business has clearly demonstrated its momentum and potential as we deliver on our plan to grow IBEX and deliver greater shareholder value and returns," said Chairman Muhammad Ziaullah Khan Chishti.
IBEX shares were up 3.8% to 95.00 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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