By Iain Gilbert
Date: Wednesday 27 Feb 2019
LONDON (ShareCast) - (Sharecast News) - Data processing outfit Arcontech saw profits soar in the first half of its trading year thanks to a double-digit increase in revenues.
Arcontech turned in a 91% higher pre-tax profit of £452,756 in the six months ended 31 December after revenues grew 13% to £1.37m. Recurring revenues increased 14% to £2.78m.
While no interim dividend was proposed, the AIM-listed group reported earnings per share of 3.72p each compared to the 2.36p turned in a year earlier.
The company said its financial position remained "strong" with cash balances at £3.23m as of 31 December, an increase of £567,895, providing the firm with a "sound basis for continued investment".
Chairman Richard Last said: "The board is pleased with Arcontech's growth in revenue and adjusted profit before tax.
"Our sales cycle is often long and unpredictable however we remain positive about the group's long-term prospects and the board expects results for the full year to be in line with expectations."
As of 1105 GMT, Arcontech shares had shot up 12.42% to 143.90p.
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Currency | UK Pounds |
Share Price | 103.50p |
Change Today | 0.000p |
% Change | 0.00 % |
52 Week High | 112.00 |
52 Week Low | 63.50 |
Volume | 470 |
Shares Issued | 13.37m |
Market Cap | £13.84m |
RiskGrade | 145 |
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Latest | Previous | |
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Final | Final | |
Ex-Div | 05-Oct-23 | 29-Sep-22 |
Paid | 03-Nov-23 | 24-Oct-22 |
Amount | 3.50p | 3.25p |
Time | Volume / Share Price |
14:00 | 286 @ 104.74p |
10:45 | 184 @ 104.89p |
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