Monday 26 September 2016

Revenues take off for software firm Datalex

Published 27/08/2015 | 02:30

Datalex CEO, Aidan Brogan, pictured in Dublin with one of the company's WTA Awards late last year.
Datalex CEO, Aidan Brogan, pictured in Dublin with one of the company's WTA Awards late last year.

Irish-based travel software firm Datalex grew revenues 3pc to $20.8m (€18.3m) in the first six months of the year.

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But net profits halved to $300,000 on the same period in 2014. Management said it was due to "increased customer deployments and product development activities, together with an increase of $300,000 in depreciation and amortisation charges".

"We made a number of strategic investments in key scaling capabilities, to drive the future growth in the business," the company's statement to the stock exchange added.

The company provides its software to travel retailers and airlines, including Aer Lingus. "We are deploying our commerce platform at some of the world's leading airlines in the Americas, Europe and China, which will drive our financial performance through the remainder of 2015 and beyond.

"We are engaging in a significant programme of investment in our product and the capabilities required to scale the business," the company said.

"In parallel, we are establishing a global partner network to increase our product and market reach and help us serve our growing customer base. We remain confident that we will achieve 20-25pc growth in adjusted EBITDA for the full year".

Davy analyst Ross Harvey said the results were "rock solid".

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