19th Jul 2021 14:30
Instem PLC - IT solutions provider based in Staffordshire, England - Says revenue up 45% in six months to June 30, including input from recent acquisitions The Edge Software Consultancy and d-Wise Technologies. Notes first half revenue includes four months input from the Edge and three months from d-Wise. First half like-for-like revenue, excluding acquisitions, up 8%, or 15% at constant currency. While cash generation "remained strong" in the first half, with GBP17.8 million total on June 30.
Says trading in line with board expectations in second half of 2021, with strong pipeline ahead.
Chief Executive Phil Reason says: "We are pleased with the progress made on the initial integration of d-wise and The Edge, and believe the enlarged group continues to be well placed to grow recurring revenue and focus on further enhancements to margins and cash generation. We have a proven model, increased scale and buoyant market conditions, and look to the future with confidence."
Current stock price: 722.00 pence, down 2.4% on Monday afternoon
Year-to-date change: up 47%
By Scarlett Butler; [email protected]
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