Sunday 23 September 2018

Datalex shares down despite growth forecast

Datalex’s products help airlines to boost revenue by enabling them to offer additional services and products to passengers when they’re booking their tickets
Datalex’s products help airlines to boost revenue by enabling them to offer additional services and products to passengers when they’re booking their tickets
Ellie Donnelly

Ellie Donnelly

Shares in Irish travel software firm Datalex were down 3.5pc in afternoon trading on the Irish Stock Exchange yesterday, despite the company announcing that it expects to deliver double-digit growth in earnings this year.

In a statement ahead of its AGM yesterday, the company said that its trading performance to date in 2018 has been "in line with expectations" and that it continues to drive revenue growth from its existing customer base.

Meanwhile its new business pipeline continues to expand.

"We are seeing demand for the Datalex Digital Commerce Platform grow, as the pace of the digital transformation of the airline industry accelerates, and as more people are travelling by air," Paschal Taggart, chairman of Datalex, said.

Earlier this month Datalex, which counts billionaire financier Dermot Desmond as a major shareholder, held its first Capital Markets day in London. The company's clients include airlines such as Aer Lingus and Lufthansa.

Irish Independent

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