D4t4 Solutions PLC (AIM:D4T4, OTC:DFORF) shares surged on Tuesday after the company said full-year adjusted pre-tax profits would be at the upper end of expectations.
The data solutions provider performed strongly in the second half of the financial year, as a result of which annual revenues are expected to be in line with market expectations.
Annual recurring revenues (ARR) in the year to the end of March increased by 32% to £14.0mln from £10.6mln the year before.
The board remains highly confident in the group's strategy. D4t$ said it has good revenue visibility and a strong pipeline of opportunities across both the Celebrus Customer Data Platform and Fraud Data Platform products. It expects to announce further contract wins in the coming months.
"This is an exceptional team performance, delivered during a year of transformational change for the group. In the last twelve months, we also successfully transitioned to a new management team, launched a new product, and introduced innovative functionality to our existing products to provide greater value to our customers and expand upon our competitive advantage in the market," said Bill Bruno, the chief executive officer of D4t4 Solutions.
D4t4’s shares were up 6.1% at 244p in the first half-hour of trading.