DataCash pre-tax profit drops, increases divi
Sep 15, 2009
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Credit card transaction handler DataCash revealed a drop in half year pre-tax profit but says it is confident it will continue to deliver good growth.
Pre-tax profit for the six months to 30 June fell to £2.7m from £3.3m the same time a year before. Revenue increased to £18.01m compared to £12.23m previously.
E-commerce saw strong growth during the period, the group explained, with like-for-like transaction year-on-year growth of around 30%.
Gaming transactions have seen slower year-on-year growth partly because of the lack of a major summer football event this year.
Commenting on the results chairman Ashley Head said, "DataCash remains in a good position. We have annuity income from a growing base of largely internet merchant accounts. We have a strong balance sheet and cash generation. We have every confidence that we will continue to deliver good growth in revenue, profits and dividends."
The interim dividend has been increased by 25% to 5p.
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