IMImobile profit bolstered by renewals and new contract wins

Writer,

Archived article

Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.

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.

At 10:04am:

(LON:BEM) Beowulf Mining PLC share price was +0.01p at 5.63p

(LON:BKY) Berkeley Energia Ltd share price was 0p at 13.25p

(LON:CEY) Centamin PLC share price was +2.03p at 111.23p

(LON:FDI) Firestone Diamonds PLC share price was 0p at 0.43p

(LON:FRES) Fresnillo PLC share price was +30.9p at 570.5p

(LON:GEMD) Gem Diamonds Ltd share price was +0.3p at 59.8p

(LON:HOC) Hochschild Mining PLC share price was +2.85p at 163.25p

(LON:IMI) IMI PLC share price was +1p at 1120.5p

(LON:KMR) Kenmare Resources PLC share price was +2p at 220p


Related content

FTSE 250 companies that score well for financial health

This is the final part of our three-part series on the FTSE 250. Read our introduction here and catch up on the growth versus...

Thu, 02/09/2021 - 00:00


Investor diary: facing up to the inflation challenge

We’re pleased to welcome back Malcolm from Edinburgh who is sharing his experience as someone in retirement taking charge of their investments for the first...

Thu, 19/08/2021 - 00:00


The case for and against share buybacks

UK companies are setting the scene to repurchase more than £8 billion of their own shares this year. Barely a year after the outbreak of Covid-19...

Thu, 20/05/2021 - 00:00


IMI upgrades guidance on annual earnings following 'strong' Q1 performance

Engineering company IMI upgraded its guidance on annual earnings following 'strong' performance in the first quarter of the year amid improving trends in across its...

Mon, 26/04/2021 - 07:44


IMI profit rises on higher margins; sees recovery in motion control, commercial vehicle segments

Engineering company IMI reported a rise in profit as cost cuts offset a slip in revenue on weaker performance in its motion control and commercial...

Fri, 26/02/2021 - 07:40