Financial market data provider Arcontech reported Wednesday first-half pre-tax profits nearly doubled supported by growth in recurring annual licence fees from existing customers.

For the six months ended 31 December 2018, profit before tax increased by 91% to £452,756 from a year earlier, and turnover increased by 13% to £1,371,107.

Annual run-rate of recurring revenues increased by 14% to £2.78m for the half, from a year earlier.

'Our sales cycle is often long and unpredictable however we remain positive about the Group's long term prospects and the Board expects results for the full year to be in line with expectations,' said Richard Last, Chairman of Arcontech Group.


At 8:59am: (LON:ARC) Arcontech Group PLC share price was +21p at 149p