15th Oct 2014 07:54
LONDON (Alliance News) - SDL PLC Wednesday said its third-quarter performance was in line with expectations and said it remains confident of hitting its targets for the full year, pushing it shares higher in early trade.
The company, which provides customer-experience management services, said its profit for the year remains on track and said its net cash at the end of the quarter to September 30 was up to GBP4.9 million, from net debt of GBP1.8 million at the end of December 2013.
The group said its Technology business saw strong growth in new licence bookings in the quarter, producing "good" constant currency revenue growth year-on-year and annual recurring revenue growth.
It said its Language Services arm produced "solid" earnings growth and said gross and net margins for the business were ahead of the year earlier.
"We are very pleased with the progress of the Group, we have invested for the long term and are tracking to plan," said SDL Chief Executive Officer Mark Lancaster.
SDL shares were up on the news, rising 5.7% to 328.25 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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