23rd Jul 2018 11:16
LONDON (Alliance News) - Microgen PLC said Monday its profit in the first half of 2018 increased due to new businesses sales of its Aptitude insurance calculation engine.
In the first six months of 2018, the business software and services provider recorded a pretax profit of GBP6.0 million, up 9.1% from GBP5.5 million the year before.
The company's interim revenue grew 23% to GBP34.9 million from GBP28.4 million. Of the GBP34.9 million, Microgen's Aptitude Software division contributed GBP25.4 million. This represents a 30% increase from GBP19.5 million a year before, an improvement which Microgen attributed to new business sales from its insurance calculation engine.
Microgen's other business, Microgen Financial Systems, contributed the remaining GBP9.5 million to revenue, up from GBP8.9 million a year before.
Microgen will pay an interim dividend of 2.2 pence per share, up from 2.0p in the previous year.
"Both businesses have continued their strategic progress in 2018 and enter the second half of the year with an encouraging pipeline of opportunities...The timing of the conversion of these opportunities will determine the group's future level of success," the company said.
Shares in Microgen were up 1.0% at 388.68 pence on Monday.