Interim Results for the six months ended 31 December 2019
ARCONTECH GROUP PLC
(“Arcontech” or the “Group”)
INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 2019
Arcontech
(AIM: ARC), the provider of products and services for real-time financial market
data processing and trading, is
pleased to report its unaudited results for the six months ended 31 December
2019.
Highlights:
- Turnover increased by 7.5% to £1,473,651
(six months ended 31 December 2018: £1,371,107) - Profit before tax increased by 22%
to £551,847 (six months ended 31 December 2018: £452,756) - Adjusted profit before tax (before
release of accruals for administrative costs in respect of prior years but
including share based payments) increased by 52% to £509,347 (six months ended
31 December 2018: £335,470) - Annual run-rate of recurring revenues
at 31 December 2019 increased by 3% to £2.87 million (at 31 December 2018:
£2.78 million) - Cash of £4,400,455
as at 31 December 2019 (31 December
2018: £3,231,830) - Trading in line and on track to meet
full year market expectations
Richard
Last, Chairman of Arcontech Group, said:
“The Board is pleased with Arcontech’s growth in revenue and adjusted profit before tax. Cash at the half year was £1,168,625 higher than the previous half year, further strengthening the Balance Sheet and demonstrating the cash generative and robust nature of the business. We have continued to invest in product development to add value to existing and prospective clients whilst making our products more competitive and compelling when compared with alternatives. Whilst there remain global factors that can affect our always long and unpredictable sales cycle, we remain positive about the Group’s long term prospects and the Board expects results for the full year to be in line with expectations.”
Enquiries:
| Arcontech Group plc | 020 7256 2300 |
|
Richard Last, Chairman and Non-Executive Director |
|
| Matthew Jeffs, Chief Executive | |
| finnCap Ltd (Nomad & Broker) | 020 7220 0500 |
| Carl Holmes/Simon Hicks | |
| Camille Gochez – ECM |
To access more information on the Group please visit: www.arcontech.com
The
information communicated in this announcement contains inside information for
the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.
The interim report will only be available to view online enabling the Group to communicate in a more environmentally friendly and cost-effective manner.