Datalex revenue surges in first half
Revenue at Irish software firm Datalex surged during the first half of the year as it benefited from new contracts and on-going services provision.
The company - whose software helps airlines to boost revenue from their booking platforms - said total revenue rose 24pc to $30.3m in the first-half. Profit after tax was 21pc higher at €1.6m, while adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) were up 17pc at €5.4m.
Datalex counts airlines including Aer Lingus, JetBlue, Delta, Virgin Australia and Lufthansa among its clients.
The company said revenue growth in the first half of the year was driven by a contribution from its contract with Swiss International, part of Lufthansa, which went live in late 2016, as well as contracts with two Chinese carriers, Air Changan and Tianjin Airlines, which also went live in 2016.
But it said the primary driver of revenue growth in the first half of the year was on-going services revenue, which grew 43pc to $16.4m.
"This revenue stream is highly recurring and strategically very important for Datalex, in terms of both bringing new customers live on our platform and delivering new functionality to existing customers, both of which will drive future platform revenue growth," noted the company.
Datalex, whose chief executive is Aidan Brogan, is predicting adjusted EBITDA growth of between 15pc and 20pc for its full financial year.
Last year, it generated adjusted EBITDA of $12.2m, which was 18pc ahead of the 2015 figure.