10th Mar 2015 11:05
LONDON (Alliance News) - Customer experience management company SDL PLC on Tuesday reported it swung to profit in 2014 due to the non-recurrence of some one-off costs booked a year earlier, but sterling strength held back revenue despite a good performance from its technology division.
SDL's pretax profit was GBP9.4 million, compared to a GBP24.4 million loss a year earlier which resulted from a GBP25.1 million one-off costs related to restructuring activity.
Revenue fell to GBP260.4 million from GBP266.1 million, but was held back by the strength of sterling, with revenue rising 3% in constant currencies.
The company said it saw solid performances in both its Language Services and Technology businesses, but its Technology arm was particularly boosted by a 14% rise in bookings and contract wins from the likes of ASOS PLC and House of Fraser.
As it turned to profit, the company said it is reinstating its dividend and is proposing a 2.5 pence per share payout.
"2014 has been a year of very significant progress for SDL. The operational transformation is progressing well and whilst there is still investment to do, I believe that we have a solid foundation to deliver long-term growth and profit," said SDL Chief Executive Officer Mark Lancaster.
Shares in SDL were up 1.3% to 438.75 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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