| Detica maintains momentum with rising revenues |
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|
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| | presented under IFRS,
show revenue increased
by 35% to £43.5m (2004:
£32.3m). Group profit
before tax grew by 18%
to £4.6m (2004: £3.9m).
The core UK business
delivered an excellent
performance, with
revenues and operating
profits increasing by
35% to £43.5m and 34% to
£6.4m respectively. The
operating profit margin
was similar to last year
at 14.8% (2004: 14.9%).
Both the government
and commercial divisions
posted double-digit
increase in revenue –¬
44% and 17% respectively
– with commercial | |
|
| | achieving around 8%
organically.
Continuing the trend
of recent years, the
government business
(comprising public
sector and national
security) was the
outstanding performer
with revenues increasing
by 44% to £30m.
Detica’s commercial
business increased
revenues by 17% to
£13.5m in the half, with
Extraprise, which was
acquired in April,
contributing revenues of
£1.1m.
Detica has been
awarded what it
considers a | |
|
| | strategically important
contract worth £3.5m
over five years to
provide a managed fraud
detection service to the
UK’s retail insurance
industry.
Furthermore, Detica’s
proposed acquisition of
Evolution Consulting
Group plc which is
expected to be completed
in January, effectively
doubles Detica’s
financial services
practice.
Detica has agreed to
buy Evolution, a
consultancy and systems
integrator focused on
the capital markets
sector, for | |
|
| | approximately £8.5m.
Evolution employs 105
staff.
In September, the US
operation gained the
necessary regulatory
approvals to contract
directly with the US
Government, and Detica
it is already working on
its first assignment,
worth “a few hundred
thousand pounds”, and is
building a strong
pipeline of
opportunities. The
business is expected to
contribute to profits
next year.
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Detica saw an
excellent first half
with increases in
revenues in both its
government and
commercial businesses
and the announcement of
an acquisition aimed at
increasing capacity in
its commercial arm.
Detica said the outlook
for the full year is
“encouraging”.
The results for the
six months to 30
September 2005, | |
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