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Datalex on track to hit full year target

Monday, May 19 10:14:32

Travel sector software and service group, Datalex, today said the first four months of 2014 have seen continued strong growth and that it is on track to deliver a full year result in line with guidance.

In its 2013 results announcement issued in March, Datalex projected Adjusted EBITDA growth of 18pc 20pc in FY2014.

"Our performance to date in 2014 gives us confidence that we are on track to meet this objective, and with the new customer deployments currently underway and new customer signings to date in 2014, we believe our business is well positioned for sustained growth," it said.

It added that its financial position was robust at the end of 2013 with net cash reserves of $16.9m, and at 30th April 2014 remains strong.

"We will continue to grow our cash reserves in 2014 even after payment of our first dividend, which will be put before our shareholders for approval at our AGM to be held later today."

The company said it is currently deploying its product at a number of new customers signed over recent months, including some of the world's most iconic travel brands, such as JetBlue Airways and Virgin Atlantic. "These customers will go live towards the end of 2014 and will deliver transaction revenue growth in 2015 and beyond."