19th Jan 2015 08:41
LONDON (Alliance News) - SDL PLC on Monday said it expects its pretax profit for the year to double despite a slight fall in revenue, as the group continued its turnaround plan and margins improved in its language services arm.
SDL, a customer experience management services company, said it expects pretax profit for the year to December 31 to be up to GBP16-17 million, against GBP8.2 million last year.
Revenue is expected to be GBP260-261 million, down from the GBP266.1 million reported last year but 3% higher at constant currencies.
The group said it secured more licence bookings for its technology division in the year, with revenue rising 15% from that division, while language services also saw earnings growth over the year on the back of improved margins.
"This has been a remarkable year for SDL. We invested for the long-term back in January 2013 and by the end of 2014 we are seeing not just recovery, but excellent new bookings growth in our technology business and solid contribution in our language services business, delivering good cash conversion for the group at this relatively early point in the turnaround programme," said SDL Chief Executive Officer Mark Lancaster.
Shares in SDL were up 5.9% to 434.00 pence on Monday morning, one of the best performers in the FTSE All-Share.
By Sam Unsted; [email protected]; @SamUAtAlliance
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