Datalex records first net profit as it inks new deals
Dublin-based travel software firm Datalex has posted its first ever net profit as a publicly listed company, with a tax gain helping to boost the figure for 2012.
Releasing full-year results yesterday, Datalex said it made a $1.1m (€850,000) net profit last year as it inked deals with more international airlines. Among its clients are Aer Lingus, Delta and a range of other carriers around the world.
The profit figure was flattered by the recognition of a previously unrecognised net deferred tax asset of $800,000. The net profit compared to a $1.4m pre-exceptional loss in 2011.
Datalex's software enables airlines to capitalise on merchandising opportunities, generating more income from passengers at a time when high fuel and other costs gnaw at profitability. Its turnover last year rose 15pc to $32.4m.
Chief executive Aidan Brogan said that 2012 had been a year of "performance and growth" for Datalex, in which businessman Dermot Desmond's IIU vehicle has a 28pc stake.
Datalex chairman Paschal Taggart, who owns 3.7pc of the company, said that the airline industry continues to face a number of significant challenges including economic uncertainty, an evolving competitive landscape and changing consumer behaviour.
"However, it is the very real presence of these challenges that ultimately presents our business with the breadth of the opportunity we now possess," he said.
Analyst Joshua Goldman at Davy Stockbrokers said Datalex had "broadly delivered" on its guidance and said he's comfortable with projections for growth of between 25pc and 30pc this year.