5th Mar 2014 13:17
LONDON (Alliance News) - Sagentia Group PLC raised its total dividend as pretax profit rose in 2013, driven by a strong first half and second half revenues that were boosted by its acquisition of OTM Consulting Ltd.
The technology consulting company raised its total dividend to 1.1 pence, up from 1.0 pence in 2012.
Pretax profit rose to GBP4.9 million, up from GBP3.0 million in the previous year, as revenue rose to GBP30.6 million, up from GBP22.3 million in the previous year.
Revenues from the company's Medical customers rose 25% to GBP13.1 million from GBP10.5 million, with most of the revenue derived in North America.
Revenue from commercial customers rose 67% to GBP15.2 million from GBP9.1 million as it saw good organic growth and benefits from its acquisition of OTM. The inclusion of OTM in the second half added to the increase in revenues.
Sagentia said its first half results had benefited from a relatively weaker currency exchange movment, although the appreciation of sterling in the latter part of 2013 meant that that overall the average exchange rate for the year was not materially different to 2012.
The company reviewed its IT services business Manage5Nines Ltd, which it said is not core to its operations. Sagentia has elected to wind down the activities of this business as the IT service market remains challenging and revenue declined.
Sagentia also reviewed the structure of its group, and starting from January 1, split its operations into two divisions; Product and Technology Development and Technology Advisory.
Shares in Sagentia were trading up 4.2% at 161.00 pence Wednesday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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