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D4t4 Solutions reported a fall in half-yearly profit but touted a stronger second half of the year underpinned by a high level of contract renewals.
For the six months ended 30 September 2019, adjusted pre-tax profit fell to £0.74m from £3.35m and revenue fell to £8.84m from £13.99m.
Revenue and adjusted profit for the period were both in line with management expectations and reflected the anticipated second-half weighting this year as a result of the timing of contract wins coming on board, the company said.
'Our prospects for the H2 (second half of the year) are strongly underpinned by a high level of contract renewals from new licences signed during the second half of last year and strong visibility on new contracts due to initiate during H2.' D4t4 said.
'This, combined with a significant pipeline of new business in negotiation with existing clients wishing either to increase the footprint of our software or to extend the use of our hybrid cloud data platform solution,' it added.