StockMarketWire.com - Software company Ideagen said it expected to report a rise in earnings in the first half of the year as revenue was bolstered by new business wins and ongoing 'strong' customer retention rates.

For the six months to 31 October 2021, Adjusted earnings before interest taxes depreciation and amortisation, or EBITDA, was expected to increase by 32% to approximately £13.2 million.

Revenue was up 33% at approximately £38.8 million, while recurring revenue recognised in the period grew by 41% to £34.2 million.

Growth was driven by continued 'strong customer retention rates as well as new business wins,' the company said.

'Ideagen enters the second half of the year in a great position, confident of delivering on its expectations for the year and the considerable opportunity continuing our current M&A plus organic growth strategy that lies ahead,' the company said.




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