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Datalex post 26pc profit rise in 2013

Tuesday, March 25 10:26:40

Datalex, the Irish provider of ecommerce and retail solutions to the global travel industry, today posted a 26pc rise in core profits (adjusted EBITDA) to USD7.5m and said it will propose the payment of its first ever dividend to shareholders.

In its full year 2013, the company recorded revenue that rose 18pc to US$38.1m and Transaction revenue that rose 19pc to US$17.5m while net profits climbed 43pc to USD1.6m and earnings per share rose 41pc to 2.4 cent.

Aidan Brogan, CEO of Datalex plc said: "2013 has been a year of performance and growth in our business, as we continue to achieve double digit percentage growth in Adjusted EBITDA, revenue and cash. We have signed significant new contracts with leading airline brands, such as JetBlue and Virgin Atlantic which secure transaction revenue growth in the medium term. As a strong statement of confidence in the company's growth prospects, I am also pleased to report that the Board has proposed the payment of the first dividend in the company's history."

He said that company's cost base grew by 14pc to US$36.8m (2012: US$32.3m).

The main increases were in payroll costs (excluding share option amortisation costs) which rose by US$1.6m to US$17.8m and contractor costs, up US$0.9m to US$7.5m.

"These additional resource costs reflect the increase in services revenue generated in the year, coupled with the weakening of the Dollar against the Euro in 2013 compared to 2012," said Mr Brogan.

Datalex said that one billion people used its software to shop for their travel needs last year, and it expects that figure to grow this year as it brings new customers on to its platforms.

During 2014, the company plans to open an office in Beijing to directly serve the key Chinese market, while it also continues to invest in its data centre and hosting infrastructure to support growth.

It said the current new business pipeline is strong and it expects to close two new contracts in the second quarter of 2014.