Dillistone falls as it warns over full-year profit

16th Sep 2015 10:27

(ShareCast News) - Dillistone, which supplies software and services for the recruitment sector, posted a drop in first-half pre-tax profit and said it expects full-year profit to fall.For the six months ended 30 June, profit before tax declined by 12% to £566,000 despite a rise in revenue to £4.71m from £4.2m. The company said revenue grew thanks to the acquisition of ISV Software in 2014 , but depreciation and amortisation costs hit profit.Dillistone said that although revenue will grow, profits will fall in 2015 compared to last year as expected growth in Voyager will not make up for the increased investment in Dillistone Systems.The company said it remains confident in future prospects and declared in interim dividend of 1.35p per share, up from 1.30p last year.Non-executive chairman Mike Love said: "These results demonstrate growth in revenue and EBITDA, with the benefits of our acquisition strategy showing through."We continue to invest in our products, services and infrastructure across the group. These investments are expected to deliver long term shareholder benefits and strengthen Dillistone's position in its chosen markets."At 1040 BST, Dillistone shares were down 9.7% at 98p.