D4T4 Solutions returns to underlying pre-tax profit in H1

(Sharecast News) - Data solutions provider D4T4 Solutions said on Monday that it had returned to an underlying pre-tax profit in the six months ended 30 September. D4T4 said revenues were expected to be approximately £13.0m, up from £8.1m a year earlier, leading to an adjusted pre-tax profit of £200,000 - a marked improvement on the prior year's pre-tax loss of £1.3m. Annual recurring revenues increased £700,000 year-on-year to £17.4m.

The AIM-listed group noted that its financial outcome was assisted by the revenues related to the delays in contract signings at the previous year end, which were signed during this period.

D4T4, which continued to invest into sales and marketing during the year, said it was confident of another year of progress and a full-year performance in line with management expectations.

Chief executive Bill Bruno said: "We are pleased with the progress in H1 of this financial year as well as the visibility afforded by our improving ARR which provides us with confidence of another year of progress and a full year performance in line with management expectations.

"We continue to invest in our people, our customers, and the further innovation of the Celebrus Platform. Underpinned by Celebrus Cloud, we are seeing customers move more quickly into the newer versions of the platform which further enables our ability to drive broader feature adoption and provides increased upsell opportunities."

As of 1045 GMT, D4T4 shares were up 5.16% at 163.0p.

Reporting by Iain Gilbert at Sharecast.com