15th Mar 2016 10:21
LONDON (Alliance News) - Kalibrate Technologies PLC on Tuesday posted a drop in pretax profit in the first half driven by delays to deals.
Kalibrate, which provides technology services to fuel and convenience retail industry clients, said its pretax profit for the half to the end of November fell to USD100,000 from USD1.2 million a year earlier.
Revenue rose 2.0% to USD15.9 million from USD15.6 million. Revenue for its planning division increased enough to offset lower pricing unit revenue, as three deals for the pricing business closed in the second half rather than in the first, pushing sales into the second half of the year. The shift in revenue mix towards its planning division resulted in lower margins, Kalibrate said.
Kalibrate said it saw robust client retention in the first half and an increased recurring revenue stream, leaving it confident it will hit market expectations for the year to the end of June.
Kalibrate shares were down 12% to 90.001 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.