Ixico FY revenues, underlying earnings ahead of forecasts
By Iain Gilbert
Date: Monday 24 Aug 2020
(Sharecast News) - Data analytics company Ixico said on Monday that it had recorded "stronger-than-anticipated" second-half revenues and underlying earnings despite Covid-19.
Given its performance to date, Ixico expects full-year revenues to be in line with, or slightly ahead of, current market expectations - representing growth of more than 20% year-on-year.
Earnings before interest, tax, depreciation and amortisation for the year ending 30 September were also pegged to be "materially ahead" of current market expectations.
The AIM-listed firm said the strong showing was due to the benefits of continued operational leverage - generated by revenue growth and investments made to drive scale and efficiency.
Chief executive Giulio Cerroni said: "In the context of the challenging market environment created by Covid-19, this increase in profitable growth, alongside our strong balance sheet and positive operating cashflows, whilst remaining fully committed to our investment plans, is a fantastic achievement."
As of 0915 BST, Ixico shares had shot up 14.26% to 78.84p.
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