Alfa Financial’s pre-tax profit in the first half increased; Rise in shares
By Sabela Ojea
Shares of Alfa Financial Software Holdings PLC rose on Wednesday after the company reported an increase in its pre-tax profit for the first half of the year and said it expected to exceed market expectations for the full year.
Shares at 0736 GMT were up 18.50 pence, or 12%, to 176.00 pence.
The London-listed software developer posted pre-tax profit of £ 11.0million ($ 15million) from £ 10.1million for the same period a year earlier.
Revenue reached £ 41.1million, up from £ 38.2million for the period last year, the company said. Alfa Financial said it was ahead of expectations and up 8% from the same period in 2020.
The board declared a special dividend of 10.0 pence per share, up from 15.0 pence the previous year.
“Our success in late-stage pipeline conversion and strong delivery performance has led us to further raise our expectations for 2021, and we now expect to exceed previous market revenue estimates by around 4%, which would represent healthy growth compared to the underlying revenues of 2020, despite the negative impact of the currency, ”he said.
The company did not provide a market consensus compilation for the full year.
Write to Sabela Ojea at [email protected]; @sabelaojeaguix