Rock-solid H1 numbers; pipeline further strengthened

  • Sectors : Travel IT Services
  • Companies : Datalex

Ratings and price correct at time of issue.

  • Datalex

    Closing Price: 205c

  • RATING 13/12/11

  • PREVIOUS RATING 30/06/09



Datalex continues to impress with its ability to grow platform revenue – its key value driver – while establishing the foundations for further growth. While the H1 numbers are rock-solid (adjusted EBITDA of $3.8m was in line with our forecast), what really stands out is the combination of its third customer in China, the recent go-live at jetBlue and further strengthening of its pipeline. These will drive growth into FY 2016 while FY 2015 guidance of +20-25% adjusted EBITDA has been reiterated. We do not expect to change forecasts at this point.

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Aug 26 2015