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13 Nov 2018 | 14:49

Ideagen sees substantial rise in first-half earnings

Information management software provider Ideagen said it expected its first-half revenue and earnings to 'significantly' exceed the prior year, as expected.

The improvement had been achieved through both organic revenue growth and the acquisitions of Medforce, InspectionXpert and MK Insight.

Like-for-like bookings growth increased 34% and total like-for-like software as a service bookings increased 80%.

Ideagen said it now expected to generate 74% of its revenues from recurring contracts by the end of 2020, up from the 70% previously anticipated.

Organic revenue growth in the period was 8%.

'I am pleased to report another excellent start to Ideagen's financial year,' chief executive Ben Dorks said.

'Our core markets are strong and underpin the demand we have seen this half.'

At 2:49pm: (LON:IDEA) Ideagen share price was +1.5p at 144p

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