ITIS Holdings Plc (ITH)

ITIS Holdings Plc (ITH) – Higher Profit Brings Company Confidence

ITIS Holdings Plc posted a higher full-year pretax profit and said it is confident of profitable expansion into new markets. For the year to March 31, the traffic data provider said its pretax profit rose to £4.8m from £3.7m, while revenues rose 9.3% to £18.32m.

Chief Executive Stuart Marks, commented:
‘We anticipate revenue from the international markets is set to grow strongly this year as we now convert prospects into customers and as we continue to find new countries that are eager to deploy our technologies,’
 
The company said it has witnessed significant growth from international business with projects including China, South Africa and Russia. ITIS added it has seen immediate benefits from the acquisition in December of Trafficlink, adding it is now implementing operational synergies between the companies that will enable it to grow both businesses. The board proposed a final dividend of 1.5p per share.