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Dillistone revenues rise

Wednesday, 21st September 2016
Dillistone Group's revenues rose by 2% to £4.811m in the six months to the end of June.

Recurring revenues represent 70% of total revenue and cover 100% of administrative expenses excluding acquisition related items.

Profit for the period rose by 3% to £0.489m and adjusted EBITDA increased by 2% to £1.204m.

Non-executive chairman Mike Love said: "After a challenging 2015, we are very happy to deliver an encouraging set of results for the first half of the year, with the recently announced record implementations and orders expected to underpin future periods.

"Despite the uncertain economic horizons, we have delivered both revenue and profit after tax growth. Very significant increases in new business orders across the group suggests that we are taking market share from our competitors and demonstrates the success of our ongoing product development strategy. The recent slide in the value of sterling is having a positive impact on revenues, partially offset by a negative effect on costs.

"We will continue to invest in our products, services and infrastructure across the Group as this is essential to delivering long term shareholder value and to strengthening Dillistone's position in its chosen markets.

"Our confidence in the future has allowed us to declare a 2% increase in our interim dividend."

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