6th Nov 2013 09:39
LONDON (Alliance News) - Information management software provider Ideagen PLC Wednesday announced its first ever dividend after reporting "significant" growth in profits and revenues in the first half of its financial year.
The compliance-based software company said it will pay an interim dividend of 0.05 pence a share and will propose a progressive policy going forward with interim and final dividends being paid.
It said the decision followed significant growth in revenue and adjusted earnings before interest, tax, depreciation and amortization, excluding acquisition costs, in the six months to end-October. It said it had been lifted by strong organic revenue growth and due to the acquisitions of Plumtree and MSS.
"I am particularly pleased with our performance in the UK health sector which is benefiting from the dismantlement of the National Programme for IT and the government's strategic focus on a ''Paperless NHS'' by 2018," Chief Executive David Hornsby said in a statement.
It said it still has a strong cash balance, meaning its has the finances to make more acquisitions.
The company provides software for industries in the UK and US that are typically highly-regulated, like health and aerospace and defence. It acquired MMS, which provides software for NHS accident and emergency departments, for up to GBP1.5 million in July, and Plumtree, which also provides information management software for healthcare, for GBP2.5 million last December.
Ideagen shares were up 17.1% at 26.5 pence Wednesday morning, one of the top risers on AIM.
By Steve McGrath; [email protected]; @SteveMcGrath1
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