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Interim Results

Progility swings to H1 pretax profit

27 March 2015 07:48

Progility has swings to an H1 pretax profit of £1.5m, from a year-ago loss of £1.1m. Revenue was £24.4m, from £18.6m.

Executive chairman Wayne Bos commented:

"Our strategic objective to grow the group has borne considerable fruit in the six month period under review. With the additions of Starkstrom and, at the end of the period, Unify Enterprise Communications in India and Woodspeen Training, the Group has all but doubled in size during the period.

"While the results for the period do not contain contributions from either India or Woodspeen, nevertheless they do show revenues increased by over 30% and gross profit has improved by 47% over the comparable period in 2013.

"As we have previously stated, however, the Group's performance is second-half weighted. The out-turn for the year to 30 June 2015 is heavily dependent on trading in the last four months of our year, which are critical months for sales across the major businesses of the Group, particularly in the UK and Australia.

"We expect to continue our strategy of transformation and repositioning over the next six months."

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