D4T4 revenues set to beat expectations as demand strengthens
Data solutions outfit D4T4 said full-year revenues would come in slightly ahead of expectations, reflecting the strength of the demand for its hybrid analytics cloud solutions.
D4T4 forecast revenues of roughly £25m for the year ended 31 March, with its recurring income stream also expected to have seen "solid growth" on the back of improved trading in its data platform business and ongoing new software sales.
The AIM-listed group was also driven by "strong demand" for its Celebrus software products, where it saw a change in sales mix between its traditional perpetual license style business and recurring revenue models.
However, despite the change, D4T4 delivered growth in top line sales and said its opportunity pipeline "looks strong".
D4T4 noted that it had experienced "no material impact" from the UK's impending departure from the EU, though it noted that may change as negotiations continued.
Chief executive Peter Kear said: "Our strategy continues to deliver and is reflected in our strong overall growth. At the same time, we continue to innovate our product, grow geographically and deepen our relationships with our strategic partners.
"The business enters the new financial year in robust shape after closing a number of significant contracts in the second half year, these contracts will have an impact on 2018-19 and on subsequent years, and we are encouraged by the opportunities and outlook for the business in the coming year."
Looking forward, Kear also told investors he was "confident" of delivering results in line with expectations for D4T4's current financial year.
As of 0945 BST, D4T4 shares had slipped 1.26% to 274.50p.