Travel software firm Datalex released its annual results for last year this morning.
The figures show a 69% increase in profit after tax to $2.7m and a 66% increase in earnings per share to 3.71 cents. The company also reported a 60% increase in cash generated from operations to $9.6m. Datalex chief executive Aidan Brogan said 2014 was a year of continued performance and growth, with significant new business wins.
Aidan Brogan says that last year was another strong year for the company and it achieved strong financial growth across all its metrics. The company's cash generation was also strong and the Datalex CEO says the company was delighted to announce a 50% increase in its dividend for shareholders. He says the strong performance came on the back of securing new customers across Europe, the US and especially in Asia and bringing those companies "live" on to Datalex's software. Datalex opened a new office in Beijing in the middle of last year, starting off with a small number of people but increasing that number significantly during the rest of the year. Mr Brogan says the company has just also agreed a local partnership deal with a technology company in China which will increase its market reach and capabilities.
On the strong dollar, Mr Brogan says the strengthening greenback did have a negative impact on the company's results last year, but adds that in the long term a strong dollar is good for Datalex. He points out that most of the company's contracts are in dollars, while its cost base in mainly in euro so therefore a strong dollar will suit it longer term. He predicts an increase in inbound traffic from the US to Europe and Ireland in 2015 and beyond due to the strengthening dollar, while the strengthening sterling will also encourage people from the UK to Ireland and Europe.
On the proposed bid by IAG for Aer Lingus, the Datalex CEO says the likelihood is that the deal will happen, but it is up to the Aer Lingus shareholders to decide.
MORNING BRIEFS - 100 jobs for Dublin as digital transaction management company DocuSign has announced it is setting up its new European hub here. The company will hire up to 100 sales and technical staff to support its growing customer base in Ireland, which includes mobile network Three Ireland.
*** This week Teagasc is running the Get Farm Financially Fit 2015 programme. Throughout the week in various locations it is sharing its expertise on financially managing the farm and the home. Teagasc says defining long-term goals for both the farm and the household can let farm families plan to have the funds in place to achieve their goals.
*** A review of construction activity says the industry in Ireland grew by 12% in volume in 2014, by 7% in terms of employment and 4% in tender prices. Architecture, design, engineering and construction services firm AECOM says it anticipates that construction industry activity will grow by 12-15% in 2015 with this strong growth pattern due to continue as the economy recovers.
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