Calyx reports 5pc growth in H1 revenues

30 Aug 2005

Irish ICT network solutions provider Calyx this morning reported a 5pc rise in revenues for the first six months of 2005 of €18.2m. During this period the company was successfully admitted to the London Alternative Investments Market (AIM), raising €9.1m in funds in the process.

According to its first-half (H1) results, gross margins rose from 33pc to 36pc and earnings before interest, taxes, depreciation and amortisation was up 31pc to €1.7m.

Profits before tax was up 89pc to €641,530 compared with €338,830 in the H1 of 2004. The company reported earnings per share of €2.97. According to the results, Calyx has a net cash balance of €5.9m as of 30 June.

Highlights of the first half included the company’s flotation on AIM in March as well as its acquisition of Convergent Systems for €600k.

Commenting on the results, Calyx CEO Maurice Healy, said: “This has been a period of transition for Calyx and we now find ourselves in a strong position to capitalise on the strong demand for our existing products and services.

“We believe the new Network Operating Centre rollout over the coming period will further strengthen our market position and enhance our performance.”

By John Kennedy