Datalex starts eyeing up ‘new horizon’ of growth

Travel software firm Datalex said it is now eyeing “a new horizon” of growth opportunities in the wake of growing in key markets and big clients increasing their online transaction reliance.

“We believe that the growing focus of major airlines on the digital transformation of their businesses, coupled with the investment we are making in both our platform and our scaling opportunities, point to a new horizon of growth for Datalex in the coming years.

"We are seeing a broadening of our new business pipeline and we are investing to create an organisation and a platform to execute on it,” management at the Dublin-headquartered company, which provides e-commerce and retail software solutions to many of the world’s leading airlines and travel firms, said yesterday on the back of a strong set of first half results.

Total revenue, for the first six months of the year, grew by 17% to $24.4m (€22m), with adjusted earnings ahead by 22% at $4.6m.

The firm, which recently announced plans to create 200 jobs by the end of 2017, saw its cash reserves grow by 11%, year-on-year, to $18m.

Management said that the period saw “strong progress” in the group’s business development, which included further growth in its key market of China and an extension with its relationship with German airline group Lufthansa.

These developments, as well as a growing collaboration with IBM, “underscore the scale of the growth opportunity for Datalex in the coming years,” management said, adding that “as a result, we are accelerating investment in our people, product and partnerships to capitalise on this opportunity.”

Datalex shares recovered from a slow start, to grow by over 1.4% yesterday.