10th Mar 2015 11:00
LONDON (Alliance News) - Kalibrate Technologies PLC on Tuesday said it turned to profit in the first half of its financial year, boosted by higher revenue, and said it remains on track to meet its expectations for the full year.
Kalibrate said its pretax profit for the six months to the end of September was USD1.2 million, compared to a USD496,000 loss posted a year earlier which was primarily down to exceptional costs of USD2.1 million.
The company said revenue increased to USD15.6 million from USD14.1 million, with a strong performance for the company in North America, Europe and South Africa. It added its recurring revenue pipeline stood at USD20.7 million at the end of the year, up USD1.1 million in the half-year.
"These results demonstrate continued delivery against our stated strategy of growing in our core markets and expanding into new geographies, with more clients now using both our Pricing and Planning products. Our managed services offering continues to gain momentum, and we are seeing good demand for our SaaS platform which further increases our revenue visibility," said Kalibrate Chief Executive Officer Bob Stein.
Shares in Kalibrate were up 5.8% to 101.00 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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