Thursday, August 28 11:48:05
Irish global travel software group, Datalex, this morning posted core profits (adjusted EBITDA) that rose 23pc in the half year to the end of June as it took big new clients on board.
Total revenues for the period rose by 24pc to USD20.2m and EBITDA climbed to USD3.8m.
The Dermot Desmond-backed company reported New York-based JetBlue Airways, Brussels Airlines, which is a member of the Lufthansa Group, and Air Transat, Canada's leading holiday travel airline all became new clients in the period.
Total costs increased by 13pc to USD19.6m over the period. This includes an impact of around USD0.5m on its Euro-based costs, as a result of the weakness of the US Dollar versus the Euro, it said.
Cash reserves at 30 June 2014 were USD14.3m, representing a 24pc increase year on year, net of the payment of its first dividend to shareholders in June.
Its total net trade receivables and accrued income at 30 June was USD10.5m, compared to USD9.6m at 30 June 2013, with this increase reflecting its working capital investment in the programme of new deployments currently underway.
For Datalex, 2014 is a year of investment, performance and growth, the interim statement said.
"We are undertaking a significant program of new customer deployments and are investing in the business infrastructure and capabilities required to scale the business and drive our performance in 2015 and beyond. The results achieved in the first half provide us with strong momentum and a solid base for the full year performance. The airline industry continues to face significant challenges, however notwithstanding these challenges, we remain confident that we can achieve 18-20pc growth in Adjusted EBITDA for the full year."
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