24th Nov 2015 09:58
LONDON (Alliance News) - Critical communications provider Sepura PLC on Tuesday said its revenue boomed in the first half, driven by good organic growth and acquisitions, as it swung to a pretax loss due to exceptional costs.
Sepura said its pretax loss for the half to October 2 was EUR6.2 million, from a EUR4.3 million profit a year earlier, as it booked EUR13.1 million in non-recurring costs from the acquisition of Teltronic, the US and Latin America-focused communications company it bought in May for EUR127.5 million.
Stripping out those one-offs, adjusted operating profit for the group rose to EUR7.3 million from EUR2.7 million.
Revenue for the half jumped by 70% to EUR92.9 million from EUR54.5 million, with 34% of the growth from organic sales and the rest from the contribution made by the Teltronic business since it was acquired.
The group will pay an interim dividend of 0.79 pence per share, up from 0.69p a year earlier.
"Today's results demonstrate a strong performance by our core business together with encouraging early successes as we integrate Teltronic. Our strategy of targeting high growth opportunities with long-term potential is validated by our growing momentum and record closing order book, giving us a solid platform from which to meet market expectations for the year," said Gordon Watling, Sepura's chief executive.
Shares in Sepura were down 0.7% to 175.00p on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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