StockMarketWire.com - Data management group Restore swing to a first-half profit and reinstated its dividend after it boosted sales by 19%.

Pre-tax profit for the six months through June amounted to £8.9 million, compared to a year-on-year loss of £3.1 million.

Revenue climbed 19% to £106.1 million and adjusted pre-tax profit jumped 56% to £15.6 million.

Restore declared an interim dividend of 2.5p per share.

'The board was delighted with the first-half performance, which was ahead of expectations,' Restore said.

'With the increasing economic activity across the UK we have seen demand significantly grow for our mission critical services and the board is confident in Restore's future prospects, and the ability to deliver excellent shareholder value.'

Restore said it was in active discussions with a large number of potential acquisition target companies representing aggregate revenues in excess of £75 million.

'A number of these accretive opportunities are expected to be executed in the second half and although this is dependent on a number of factors, acquisition investment could be between £20 million and £30 million,' it added.


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