DataCash pre-tax profit drops, increases divi

15th Sep 2009 08:05

Credit card transaction handler DataCash revealed a drop in half year pre-tax profit but says it is confident it will continue to deliver good growth.Pre-tax profit for the six months to 30 June fell to £2.7m from £3.3m the same time a year before. Revenue increased to £18.01m compared to £12.23m previously.E-commerce saw strong growth during the period, the group explained, with like-for-like transaction year-on-year growth of around 30%.Gaming transactions have seen slower year-on-year growth partly because of the lack of a major summer football event this year. Commenting on the results chairman Ashley Head said, "DataCash remains in a good position. We have annuity income from a growing base of largely internet merchant accounts. We have a strong balance sheet and cash generation. We have every confidence that we will continue to deliver good growth in revenue, profits and dividends."The interim dividend has been increased by 25% to 5p.