Datalex reports 13% increase in revenues

Irish travel software company, Datalex reported a13% rise in revenues for the first six months of the year and said they are on track to achieve earnings growth of between 25% and 30% this year.

The addition of new airlines Delta and Canadian airline Westjet boosted the companies revenue to more than $17 million (€12.8m) for the first half of the year.

However, the company reported a pretax profit of just $117,000.

“The first half of 2013 represents a robust start to the year for Datalex, with new customer wins, two important new partnerships and solid financial metrics achieved. We remain comfortable with guidance of 25%-30% adjusted EBITDA growth for FY 2013,” the company said.

Davy analyst Joshua Goldman said the company had positioned itself to capitalise on growth.

“The company has announced two strategic partnerships which should enhance Datalex’s product reach and development. These deals show strategic foresight and efficient use of resources. We continue to view Datalex as an ‘Outperform’.”

The new strategic partnerships will help the company grow as the software powering the travel sector transforms.

“We can also report some significant strategic developments that will help drive growth beyond 2013, including a partnership with Hewlett Packard Enterprise Services (‘HPES’), and an exciting opportunity to collaborate with PROS, one of the world’s leading Big Data software companies. These developments, together with the continued growth and performance of our platform, consolidate Datalex’s position as the world’s leading provider of retail software capabilities to the travel industry,” the company said.

The company also announced a number of new customers to date in 2013 including Virgin Atlantic.