3rd Mar 2016 09:40
LONDON (Alliance News) - IT services company Microgen PLC Thursday said it had performed in line with its expectations in 2015, as it reported a fall in pretax profit due to exceptional costs.
The company reported a pretax profit of GBP4.9 million, down from GBP5.8 million in 2014, as a rise in revenue to GBP32.0 million from GBP29.8 million was offset by higher exceptional costs in relation to the sale of its Fleet freehold property.
Microgen proposed a final dividend of 2.8 pence, which takes its total dividend to 4.2 pence, up from 3.3 pence the year before.
The company said it had made good progress in executing the strategic plans it had set out for its two operating businesses, Aptitude Software and Financial Systems, in 2013.
Revenue growth was helped by eight software contract wins with new and existing customers for Aptitude Software, and following the year end the company signed a contract with an undisclosed North American telecommunications company.
Microgen's Executive Chairman Martyn Ratcliffe will be retiring from the board Friday, and Ivan Martin will step up as non-executive chairman.
"With a return to growth, good forward visibility, strong operating margins, a well-covered dividend yield, a robust balance sheet and an excellent management team, Microgen is well positioned as the group enters its next evolutionary phase," Ratcliffe said in a statement.
Shares in Microgen were up 5.0% at 120.20 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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