Travel software firm Datalex posts 3pc revenue jump
Irish-based travel software firm Datalex grew revenues 3pc to $20.8m in the first six months of the year.
But the company's net profits halved - to $300,000 - on the same period last year. Management said this was due to "increased customer deployments and product development activities, together with an increase of $0.3m 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 including airlines. Customers include 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 toincrease our product and market reach and help us serve our growing customer base.We remain confident that we willachieve 20-25% growth in Adjusted EBITDA (earnings before interest, taxes, depreciation and amortisation) for the full year".
Davy analyst Ross Harvey said the results were "rock solid" and praised the company's strengthening of its pipeline.