26th Jan 2016 10:17
LONDON (Alliance News) - Ideagen PLC on Tuesday said its sales momentum continued through the third quarter of its financial year, as the information management software company reported that it swung to a first-half pretax loss.
The company, which counts BAE Systems, Emirates, Shell and the European Central Bank as well as 150 hospitals in the UK and US among its customers, said it made a GBP115,000 pretax loss in the six months ended October 31, compared with a GBP453,000 pretax profit the corresponding half the prior year. Ideagen lifted its interim dividend to 0.061 pence from 0.055p.
First-half revenue rose to GBP9.9 million from GBP5.7 million, boosted by the integration of Gael, the rival acquired in December 2014, and EIBS in June that year, while operating costs were up to GBP6.3 million from GBP3.2 million.
Profit from operating activities before depreciation, amortisation, share-based payment charges and exceptional items increased to GBP2.4 million from GBP1.5 million.
"Trading remains robust across all GRC [Governance, Risk and Compliance] product areas and we have continued our sales momentum through the third quarter. Therefore, given the performance of the group in the year to date, the growing contracted recurring revenue base, and healthy pipeline of new sales opportunities, the board is confident in the outlook for the year as a whole.
Shares in Ideagen were down 3.1% at 47.02p on Tuesday morning.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
IDEA.L