iEnergizer leaps on 74% profit growth

Shares in iEnergizer jumped on Tuesday after interim profits leapt and the outfit announced its intention to return to the dividend list after receiving debt refinancing offers.

For the six-month period ended 30 September profit before tax increased by 74% to $21m compared to the same period last year as service revenue jumped by 10% to $82.4m and EBITDA rose by 39% to $24.3m.

A statement from the AIM-traded business processing outsourcer said that it continues to focus on recurring revenues from long-term customer relationships across all verticals and has added new blue-chip customers in the gaming and ecommerce markets.

Chairman Marc Vassanelli said: "We are pleased to report another strong performance by iEnergizer, demonstrating sustained increases in revenue and profit and further improvements in profit margin."

Profit before tax margin stood at 24.6%, up from 15.9% in the same period last year as iEnergizer focussed on higher margin projects such as content writing, financials, entertainment gaming support, content technology and digital solutions.

At 30 September net debt stood at $18.5m, down from $26.4m at the beginning of the period.

"The company's healthy cash position, together with its cash generative business model, puts iEnergizer in a strong position to invest in both organic and inorganic growth opportunities in the periods ahead. We expect sustained business performance through the second half of the year and the board looks forward to the remainder of the year with confidence," said Vassanelli.

iEnergizer’s shares were up 14.29% at 120.00p at 0838 GMT.