StockMarketWire.com - Compliance services provider SimplyBiz swung to a first-half profit after its acquisition of Defaqto helped underpin a rise in sales.

Pre-tax profit for the six months through June amounted to £2.7m, compared to a loss of £1.2m on-year.

Revenue rose 20% to £29.1m and the company declared an interim dividend of 1.41p per share.

'The group has delivered a positive first-half performance, and we are delighted to have completed the acquisition of Defaqto in March 2019,' joint chief executive Matt Timmins said.

'The integration of the business is progressing well and in line with management expectations'

At 10:08am: [LON:SBIZ] The Simplybiz Group Plc Ord Gbp0.01 share price was +4p at 203p



Story provided by StockMarketWire.com