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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| D4t4 Solutions Plc | LSE:D4T4 | London | Ordinary Share | GB0001351955 | ORD 2P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 176.00 | 172.00 | 180.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Computer Related Svcs, Nec | 21.37M | 2.12M | 0.0533 | 39.87 | 84.4M |
From Apr 2019 to Apr 2024
TIDMD4T4
RNS Number : 3631Q
D4T4 Solutions PLC
29 November 2016
Tuesday, 29 November 2016
D4t4 Solutions Plc
(the "Company, "Group" or "D4t4")
'ALL ABOUT THE DATA'
Half-Year results for the six months ended 30 September 2016
"Strong organic growth and continued US-dollar based international expansion providing a solid platform for growth"
Tuesday, 29 November 2016: Specialists in Data solutions, D4t4 Solutions Plc (AIM: D4T4) announces half-year results for the six months ended 30 September 2016.
Hot Features
Premium
Key highlights: Six months ended
30 September
------------------------------------------------ -----------------------
2016 2015
------------------------------------------------ ---------- -----------
Ø +18% growth in Group GBP10.02m GBP8.47m
revenue
* 78% of sales US dollar based
21.1% 20.0%
* Celebrus sales up >44%
* Return on sales*
------------------------------------------------ ---------- -----------
Ø Gross profit up 32% GBP5.26m GBP3.96m
* Gross profit margin 52.50% 46.75%
------------------------------------------------ ---------- -----------
Ø +25% growth in the Group's GBP2.12m GBP1.69m
adjusted pre-tax profit **
------------------------------------------------ ---------- -----------
Ø +44% growth in adjusted
EPS 5.44p 3.78p
------------------------------------------------ ---------- -----------
Ø +10% uplift in the interim
dividend 0.55p 0.50p
------------------------------------------------ ---------- -----------
Ø Net cash position GBP0.07m GBP0.31m
------------------------------------------------ ---------- -----------
Ø Net current assets GBP3.33m GBP1.01m
------------------------------------------------ ---------- -----------
* adjusted pre-tax profit** as a percentage of sales
** adjusted for amortisation of intangibles and share based payments charges.
The half year report will shortly be made available on the Company's website: www.d4t4solutions.com/investor-relations/
ENQUIRIES D4t4 Solutions Plc Peter Kear, Chief Executive Officer Carmel Warren, Chief Financial Officer Tel: +44 (0) 1932 893333 email: moreinfo@d4t4solutions.com finnCap (Nominated Adviser TooleyStreet Communications & Broker) (IR & Media Relations) Ed Frisby/Emily Watts - Fiona Tooley: Corporate Finance Tel: +44 (0) 7785 703523 Stephen Norcross - Corporate or email: fiona@tooleystreet.com Broking Tel: +44 (0) 20 7220 0500 About D4t4 Solutions Plc AIM: D4T4 D4t4 Solutions Plc is "ALL ABOUT THE DATA." We are energetically focused on solutions that enable clients to get the most from their data. From collection, through to management and analysis, we provide comprehensive products and services that drive value from our clients' information assets. We are accredited in ISO27001: Information Security Management and PCI Data Security Standard. To find out more, visit www.d4t4solutions.com.
The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014.
D4t4 Solutions Plc
'ALL ABOUT THE DATA'
(the "Company" or "D4t4")
Half-Year results for the six months ended 30 September 2016
Statement by the Chairman, Peter Simmonds
Introduction
During this first six months of the current financial year, our Company has continued to flourish on the sound foundations established by the Data and Analytics business that has been created over the previous five years.
Our people have worked hard this year to continue the process of transformation in our business, and in July, following approval from shareholders the Company formally changed its name to D4t4 Solutions Plc. Our focus and motivation to be 'ALL ABOUT THE DATA' will continue to drive value for our clients, enabling them to create advantage from their data for profit and growth which, in turn, drives stakeholder value.
Our ongoing focus on Data and Analytics continues to reap rewards and this has in turn delivered strong organic growth (approximately 85% of Group income coming from this area of our business) while, our focus on working with partners that have global reach has further strengthened our US dollar-based sales expansion. The percentage of our business derived from US dollar based sales continues strongly and represented approximately 78% of Group revenue. This reduces the impact of any adverse currency movements due to the weaker sterling exchange rate.
With market research from Forrester showing that the BI and Analytics market growth is accelerating and now expected to grow by some 12% compound through to 2020, our Company has a solid base from which to continue to build its profile and earnings both domestically and internationally.
Trading performance
Business income is generated by three streams: projects, recurring income from our managed private cloud and software licence maintenance services ("recurring income stream") and software licence sales.
During the period under review, we achieved revenue of GBP10.02m of which, GBP6.21m came through projects, GBP2.36m generated from our recurring income and the balance of GBP1.45m from software licence sales. This is a strong performance by D4t4 Solutions delivering an 18.3% growth in revenue over the same period in 2015. Looking at the individual income streams we are very pleased to have achieved growth across our business streams over the same time last year of +30% in projects, +5% in recurring income stream and a marginal increase in software licence sales.
Whilst Celebrus software licence sales grew by over 25%, our deemphasised business of reselling certain vendors' third-party software licences dropped to zero with the result that our software licence business remained flat overall, however, due to the change in mix it has resulted in an increase in the gross profit margin of 14% (HY2016:63% v HY2015:49%).
Gross profit contribution from the business streams was as follows: projects work delivered GBP3.04m (HY2015: GBP2.14m), while our recurring income stream and software licence sales reported GBP1.30m and GBP0.92m respectively (HY2015: GBP1.12m and GBP0.7m). This gives an overall gross profit of GBP5.26m, an adjusted profit before tax of GBP2.12m* and a return on sales of 21.1% up from 20.0% for HY2015.
Our main focus in selling Celebrus software into more verticals via an increasing number of channel partners continues, in parallel we are continually extending the Celebrus data collection capabilities and product functionality which enables us to extend into new product areas. This has contributed to a strong Celebrus sales performance in the first half year and produced an uplift in sales in excess of 25% over the same period in 2015.
Our Private cloud and remote managed services offerings have equally been in demand due to those companies who do not want to place their customer data in a public cloud environment. Also during this period our 'Big Data' and 'Data Platform' modernisation focus has taken us into more multinational accounts than ever before and allowed us to cross-sell our full portfolio of software and services to a wider audience. This has led to strong overall organic growth across the Group and resulted in the Data and Analytics portion of the business now exceeding 85% of total revenues (2015: 72%).
Contract wins
We are pleased to report that during the first half of the financial year we secured five major multi-year contracts with existing and new customers from within the financial services, electronics and telecommunications sectors.
These contracts vary in size and duration, however, over the course of the current financial year these contracts are expected to contribute approximately GBP5.1 million in contracted revenue to the company and approximately GBP490,000 per annum of recurring revenue in subsequent years.
Investment and people
In total, we employ 122 staff across our operations. Once again, the Board would like to thank our staff for their continued hard work and professionalism; we continue to receive positive feedback from clients on both the quality and dedication of our people working with them across all aspects of our business.
Within D4t4 Solutions our Indian based development and support team continues to grow enabling us to offer extended time-zone coverage, increased flexibility and high quality levels of service from a lower cost base.
During the second half of this financial year we will be further extending our US presence enabling us to better support our growing number of new and existing US-based clients, also during 2017 calendar year we will be increasing our investment in sales and marketing capabilities with a focus on extending our global reach via additional channel partnerships.
As part of our succession planning, we have seen an orderly change at Senior Management level and Main Board. I am delighted to welcome new faces to the existing talent we already have within the business and it is encouraging to report that these skill sets combine to further enhance the team's capabilities to deliver our strategic goals into the future.
Dividend
As a Company, we are committed to a progressive dividend policy and rewarding our stakeholders whilst at the same time balancing our investment in the business for future growth.
The Directors remain confident in the Group's prospects and future performance and, as such, based on our confidence we are pleased to declare an interim dividend of 0.55p per share, a 10% increase over last year. This will be paid on Tuesday, 10th January 2017 to Members on the Register as at 9th December 2016. The shares will become ex-dividend on 8th December 2016. The dividend is covered 9 times by earnings.
Outlook and trading
Since 2014 we have successfully remodelled the Group, creating a more balanced business with strong higher margin licence sales and progressively greater project and recurring revenues. Today, over 85% of Group revenue is derived from the Data and Analytics portion of our business, we expect this level to be maintained for the foreseeable future.
D4t4 Solutions trading remains strong and, since the start of the second half of the financial year, we are pleased to report that we have secured a number of additional contracts including one with a leading US retailer and one with a UK based insurance company.
In summary, on the back of a strong first half performance coupled with continuing demand from our existing customers and a growing new business pipeline, the Board remain confident of being able to deliver further strong growth. Therefore, notwithstanding any unforeseen economic impact of Brexit and the recent US elections, the Company expects to deliver trading results for the year ending 31 March 2017 in line with current market expectations.
* adjusted for amortisation of intangibles and share based payments charges.
D4t4 Solutions Plc
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
for the six months ended 30 September 2016
Six months
ended Year ended
30 September 31 March
(unaudited) (audited)
2016 2015 2016
GBP'000 GBP'000 GBP'000
------------------------------------ -------- -------- -----------
Continuing operations
Revenue 10,024 8,470 18,609
Cost of sales (4,763) (4,508) (9,395)
------------------------------------- -------- -------- -----------
Gross profit 5,261 3,962 9,214
Distribution costs (1,951) (1,313) (3,958)
Administration expenses (1,407) (1,102) (1,985)
Other operating
income 40 22 22
-------------------------------------
Profit from operations 1,943 1,569 3,293
Investment income - - 1
Finance costs (23) (32) (76)
Profit before tax 1,920 1,537 3,218
Tax (103) (289) (278)
Profit for the period 1,817 1,248 2,940
Other comprehensive income
Gains on property
revaluation - - 48
Total comprehensive income for
the period attributable to equity
holders of the parent 1,817 1,248 2,988
-------------------------------------- -------- -------- -----------
Earnings per share
4.95 3.51
Basic p p 8.17 p
4.67 3.36
Diluted p p 7.64 p
------------------------------------- -------- -------- -----------
Consolidated statement of changes in equity
--------------------------------------------------------------------
Six months
ended Year ended
30 September 31 March
(unaudited) (audited)
2016 2015 2016
GBP'000 GBP'000 GBP'000
--------------------------------- -------- -------- -----------
Profit for the period 1,817 1,248 2,940
Other comprehensive income
Items that will be reclassified
to profit and loss
Gains on property
revaluation - - 48
Total comprehensive income 1,817 1,248 2,988
Transactions with owners
Purchase of own
shares (158) - (291)
Sale of own shares (79) 3 51
Share-based payments 41 1 38
Issue of share capital 421 572 572
Contingent shares (393) (606) (606)
Deferred tax on outstanding
share options (67) 30 361
Amortisation 49
Dividends paid (574) (198) (380)
Total transactions with
owners (809) (198) (206)
Change in shareholders' equity
for the period 1,008 1,050 2,782
Shareholders' equity
at start of period 14,645 11,863 11,863
Shareholders' equity at
end of period 15,653 12,913 14,645
---------------------------------- -------- -------- -----------
D4t4 Solutions Plc
Consolidated balance sheet
as at 30 September 2016
At 31
At 30 September March
(unaudited) (audited)
2016 2015 2016
GBP'000 GBP'000 GBP'000
-------------------------------- -------- -------- ----------
Non-current assets
Goodwill 8,696 8,696 8,696
Other intangible
assets 1,630 1,882 1,754
Property, plant
and equipment 2,608 2,382 2,615
Deferred tax assets 727 728 792
13,661 13,688 13,857
-------------------------------- -------- -------- ----------
Current assets
Trade and other
receivables 6,968 2,702 2,757
Cash and cash equivalents 1,454 2,090 5,007
8,422 4,792 7,764
-------------------------------- -------- -------- ----------
Total assets 22,083 18,480 21,621
--------------------------------- -------- -------- ----------
Current liabilities
Trade and other
payables (4,601) (3,089) (5,045)
Tax liabilities (97) (294) -
Borrowings (397) (403) (397)
(5,095) (3,786) (5,442)
Non-current liabilities
Borrowings (984) (1,381) (1,183)
Deferred tax liabilities (351) (400) (351)
(1,335) (1,781) (1,534)
-------------------------------- -------- -------- ----------
Total liabilities (6,430) (5,567) (6,976)
Net assets 15,653 12,913 14,645
--------------------------------- -------- -------- ----------
Equity
Share capital 749 732 732
Share premium account 7,522 7,118 7,118
Revaluation reserve 276 228 276
Own shares (2) (76) (23)
Equity reserve 457 803 940
Retained earnings 6,651 4,108 5,602
Attributable to equity holders
of the parent 15,653 12,913 14,645
D4t4 Solutions Plc
Consolidated cash flow statement
for the six months ended 30 September 2016
Six months
ended Year ended
30 September 31 March
2016 2015 2016
GBP'000 GBP'000 GBP'000
------------------------------------ -------- -------- -----------
Operating activities
Profit from operations 1,943 1,569 3,293
Adjustments for:
Depreciation of property,
plant and equipment 79 54 178
Loss on disposal of
property, plant and
equipment - - -
Amortisation of
intangible assets 157 155 260
Share-based payments 41 1 38
Operating cash flows before
movements in working capital 2,220 1,779 3,769
Decrease/(Increase)
in receivables (4,211) 2,121 2,032
(Decrease)/increase
in payables (444) (1,338) 618
Cash generated by/ (used
in) operations (2,435) 2,562 6,419
Income taxes paid (5) (54) (69)
Net cash from/ (used in) operating
activities (2,440) 2,508 6,350
-------------------------------------- -------- -------- -----------
Investing activities
Interest received - - 1
Interest paid (23) (32) (76)
Purchase of property,
plant and equipment (115) (45) (332)
Proceeds on disposal
of property, plant and
equipment 8 - -
Net cash used in investing
activities (130) (77) (407)
------------------------------------- -------- -------- -----------
Financing activities
Equity reserve - (35) -
Dividends paid (547) (198) (380)
Repayment of borrowings (199) (207) (411)
Purchase of own
shares (net) (237) 4 (240)
Net cash (used in)/from financing
activities (983) (436) (1,031)
Net movement in cash and cash
equivalents (3,553) 1,995 4,912
Cash and cash equivalents
at start of period 5,007 95 95
Cash and cash equivalents at
end of period 1,454 2,090 5,007
-------------------------------------- -------- -------- -----------
D4t4 Solutions Plc
Notes to the interim financial statements
for the six months ended 30 September 2016
1 Basis of preparation
----------------------------------------------------------
The interim financial information for the six months
ended 30 September 2016 (HY2016) and comparative
interim figures for 2015 (HY2015) do not constitute
statutory accounts within the meaning of section
434 of the Companies Act 2006 and have neither been
audited nor reviewed by the Group's auditors. The
financial information for the year ended 31 March
2016 has been extracted from the statutory accounts
for that period which have been filed with the Registrar
of Companies and which contain an unmodified audit
opinion and did not contain a statement under section
498(2) or (3) of the Companies Act 2006.
The interim financial information has been prepared
on the basis of the accounting policies and on a
consistent basis with the latest published annual
accounts. Those financial statements were prepared
in accordance with International Financial Reporting
Standards, incorporating International Accounting
Standards (IAS's) and Interpretations (collectively
IFRS).
Business and geographical
2 segments
--- ---------------------------------- -------- -------- ---------- ---------
The Group has one reportable business segment.
The information presented to the Chief Executive
for the purpose of resource allocation and assessment
of segment performance is focused on the type of
product sold, as shown below. No allocation of other
income and costs to these categories is made because
the Directors consider that any such allocation
would be arbitrary, as would be any allocation of
assets and liabilities.
Continuing operations including Product Project Recurring Total
Celebrus Technologies HY2016 work revenues GBP'000
External sales 1,455 6,212 2,502 10,169
Adjustment for agency
basis - - (145) (145)
Reported revenue 1,455 6,212 2,357 10,024
-------- -------- ---------- ---------
Segment result (gross
profit) 916 3,042 1,303 5,261
-------- -------- ----------
Other operating
costs and income (3,318)
Investing and financing
activities (23)
Profit before tax 1,920
---------
Continuing operations HY2015 Product Project Recurring Total
work revenues GBP'000
External sales 1,448 4,768 2,444 8,660
Adjustment for agency
basis - - (190) (190)
Reported revenue 1,448 4,768 2,254 8,470
-------- -------- ---------- ---------
Segment result (gross
profit) 709 2,137 1,116 3,962
-------- -------- ----------
Other operating
costs and income (2,393)
Investing and financing
activities (32)
Profit before tax 1,537
---------
Continuing operations FY2015 Product Project Recurring Total
(year ended 31/3/2016) work revenues GBP'000
External sales 2,974 10,666 5,443 19,083
Adjustment for agency
basis - - (474) (474)
Reported revenue 2,974 10,666 4,969 18,609
-------- -------- ---------- ---------
Segment result (gross
profit) 2,076 4,584 2,554 9,214
-------- -------- ----------
Other operating
costs and income (5,921)
Investing and financing
activities (75)
Profit before tax 3,218
---------
Geographical segments
The Group's reportable business
segment operates within the
UK.
3 Earnings per share
--- ---------------------------- ---------------------------- -------------
Six months
ended Year ended
30/09/2016 30/09/2015 31/03/2016
Earnings attributable
to equity holders of
the parent GBP1,817,000 GBP1,248,000 GBP2,940,000
------------- ------------- -------------
Weighted average of
ordinary shares in issue 36,793,918 35,657,048 36,118,443
Weighted average
of own shares (58,505) (101,161) (125,237)
------------- ------------- -------------
Weighted average for
calculating basic EPS 36,735,413 35,555,887 35,993,206
Effective dilutive
share options 2,197,325 1,590,683 2,512,249
------------- ------------- -------------
Weighted average for
calculating diluted
EPS 38,932,738 37,146,570 38,505,455
------------- ------------- -------------
4 Dividends
----- -------------------------------------- ---------------------------------------- -------------------
Six months ended Year ended
30/09/2016 30/09/2015 31/03/2016
Amounts recognised as distributions
to equity holders GBP'000s GBP'000s GBP'000s
------------------- ------------------- -------------------
Final dividend for the year
ended 31 March 2016 of 1.5p
(2015: 0.56p) 574 - -
Interim dividend for the
year ended 31 March 2016
of 0.50p (31 March 2015:
Nil) - - 182
Final dividend for the year
ended 31 March 2015 of 0.56p
(2013: 1.12p) - 198 198
574 198 380
------------------- ------------------- -------------------
An interim dividend of 0.55p per share will be paid
on Tuesday, 10th January 2017 to Members on the Register
as at 9th December 2016. The shares will become ex-dividend
on 8th December 2016.
29 November 2016
IR GMMZMFRFGVZZ
(END) Dow Jones Newswires
November 29, 2016 02:01 ET (07:01 GMT)
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