LONDON–Galasys PLC (GLS.LN) Monday reports a 35% rise in first-half pretax profit, said its sales pipeline is increasing and expects further momentum as the group continues to expand its market coverage in China and other Asian countries.
The provider of ticketing systems and solutions to the theme park industry in Asia, which floated on AIM in May, added that it expects to maintain growth levels, and secure more projects as it increases penetration into new markets and continues development and launch of new cloud-based products and services going forward.
“On the back of the strong growth prospects in the Asian theme park industry, Galasys is well-poised to deliver a good performance for its shareholders in the coming months,” Chief Executive Sean Seah said.
For the six months ended June 30 the company made a pretax profit of 5.02 million Malaysian Ringgit ($1.59 million), compared with MYR3.72 million a year earlier on a pro-forma basis.
Revenue rose 34% to MYR16.44 million, compared with MYR12.27 million. The pro-forma figures assume Galasys GLT (formerly Green Laser Technology) was part of Galasys Group since Jan. 1.
Shares at 0715 GMT up 1 pence, or 3.9%, at 20 pence valuing the company at 13 million pounds ($21.56 million).
(Source: Dow Jones, 01 September 2014)
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