IMImobile profit bolstered by renewals and new contract wins

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Cloud software company IMImobile reported a rise in first-half profit as growth was boosted by contract renewals from existing clients as well as new client wins.

For the six months ended 30 September 2019, pre-tax profit rose to £1.30m from £1.16m as revenue climbed 24% to £83.0m.

The company said it saw a 'strong' period of new client wins, with multiple new contract wins across all regions and the renewal of all major contracts fell due in the period with a strong pipeline of new opportunities.

'We have made strong organic progress throughout the first half of the year and expect the positive momentum to continue through to the year end and beyond,' IMImobile said.

'The acquisition of 3Cinteractive provides a solid foundation in the US and we are very confident of success in this market. The outlook for the year is positive and we are trading in line with Board expectations,' it added.

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