Datalex says trading is in line with expectations

Travel software company eyes opportunities in the travel loyalty market

Datalex chairman Paschal Taggart said on Monday that trading performance to date in 2018 has been “in line with expectations”. Photograph: Bryan O’Brien

Datalex chairman Paschal Taggart said on Monday that trading performance to date in 2018 has been “in line with expectations”. Photograph: Bryan O’Brien

 

Datalex, the listed travel software company in which businessman Dermot Desmond has a stake, said on Monday that trading to date this year has been as expected.

In a statement ahead of its agm in Dublin today, chairman Paschal Taggart said trading performance to date in 2018 has been “in line with expectations”, and the company is confident that it will again deliver double digit growth in adjusted earnings (EBITDA) for the full year.

“We continue to drive revenue growth from our existing customer base, while our new business pipeline continues to expand,” said Mr Taggart, adding that the company is seeing demand grow for its digital commerce platform grow, on the back of increased air travel.

The Dublin-headquartered company said it is also targeting the travel loyalty market, and has recently signed a contract to deliver a new loyalty commerce platform to Multiplus of Brazil.

“Entry into the loyalty commerce sector represents a major opportunity for our future growth, and provides further momentum to our business development strategy. Both Multiplus and the Lufthansa Group will go live and begin generating platform revenue later in 2018, and will drive our adjusted EBITDA growth in 2019 and beyond,” Mr Taggart said.

Last year Datalex reported a 15 per cent rise in full-year revenues to $63.9 million (€51.7m) from $55.3 million as earnings jumped 15 per cent to $14.2 million from $12.2 million.