Friday 20 April 2018

Datalex expects 30pc earnings jump

John Mulligan

John Mulligan

Travel software firm Datalex expects to deliver as much as a 30pc jump in earnings this financial year after reporting "strong growth" in the first four months of the year.

In a statement, the company – whose clients include well-known airlines from around the world – said that it was positioned to notch up between 25pc and 30pc growth in earnings before interest, tax, depreciation and amortisation (EBITDA) in the year. That will bring EBITDA to between $7.2m (€5.5m) and $7.5m.

"Our new business pipeline continues to strengthen, buoyed by the successful introduction of our platform over the last 12 months at leading airlines including Delta Airlines and Westjet," said Datalex, which is headed by chief executive Aidan Brogan. The company's clients also include Aer Lingus.

Datalex's products help airlines to generate more income from passengers by enhancing merchandising opportunities.

Last year, Datalex made its first ever net profit as a plc. Datalex chairman Paschal Taggart owns 3.7pc, while IIU – the investment vehicle of financier Dermot Desmond – holds 28pc. Businessman Nicholas Furlong also holds a sizeable chunk.

Datalex said it also anticipates "strong cash generation" this year. It had net cash reserves of $14.6m at the end of April.

Irish Independent

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