Alfa Financial Software Holdings PLC said Wednesday that its pretax profit rose in the first half and declared a special dividend of 3.5 pence, and said it expects to meet full-year market expectations.
The London-listed software developer posted a pretax profit of 13.8 million pounds ($16.0 million) compared with GBP11.0 million for the same period a year earlier.
Revenue rose to GBP43.9 million from GBP41.1 million for the year-ago period, the company said. Total contract value rose 10% to GBP138.1 million, driven by a 16% growth in subscription total contract value.
“Our strong sales pipeline provides a platform for continued growth. We have also continued our progress in building resilience into the business through further reducing customer concentration, growing subscription revenues, increasing geographic spread and diversifying target markets,” Chief Executive Andrew Denton said.
The company said it was conscious of the difficult economic outlook but expects its market to remain resilient, and is reassured by its reduced customer concentration, market diversity and growing subscription revenue base. As such, it expects to meet full-year market views and has the opportunity to exceed them in the second half, assuming no significant changes in conditions.
Shares at 0736 GMT were flat on 171.5 pence.