Cloud communications software and solutions provider IMImobile PLC (LON: IMO) reported strong financial results for the six months ended September 30th, alongside a period of client wins and acquisitions.
The Company began by stating that its performance was in line with the Board’s expectations, with revenue jumping 24% to £83.0 million.
This sales progress led a 27% surge in adjusted EBITDA to £9.8 million and adjusted profit after tax rising 12% to £5.2 million. The only downside to today’s fundamentals was the Group’s net debt, which narrowed from £7.5 million to £21.8 million between the first and second halves of the financial year.
Operationally, during the period, IMImobile announced the acquisition of 3Cinteractive Corp, new contract wins across all regions and new launches, “utilising new richer messaging channels, Apple Business Chat, RCS and WhatsApp Business”.
The Company’s shareholders fared similarly well, with adjusted diluted EPS up 5% year-on-year for the same period, to 6.9p.
Other positive financial results announced on Tuesday came from; IG Design Group PLC (LON: IGR) celebrating a profit bounce, CRH PLC (LON: CRH) posted a strong third quarter and Pets at Home (LON:PETS) celebrated a productive first half.
Jay Patel, Chief Executive Officer, stated,
“89% of companies are now competing primarily on the basis of customer experience, meaning demand for customer communication software has never been greater. Our enterprise-grade offering, and comprehensive set of applications addresses the needs of the largest complex global organisations. With the introduction of new, richer communication channels, we are excited about the possibilities for dramatically improving customer experience.”
“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. 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.”
The Company’s shares rallied 5.59% or 17.00p to 321.00p per share 26/11/19 15:15 GMT. The Group’s p/e ratio is 18.20, their dividend yield is unavailable, and their market cap is £238.50 million.