Dotdigital sees revenues rise thanks to restructuring

14th Oct 2014 13:52

Strong growth in its core product and a contract wins with new clients helped Dotdigital deliver a 19% increase in total full year group revenue.The AIM-listed company, which provides marketing software as a service (SaaS), said turnover climbed from £13.8m to £16.4m, but higher admin costs saw pre-tax profit decline from £4.0m to £3.6m.However, because of losses from discontinued operations the previous year, the group's overall profit for the year actually came in significantly higher year-on-year.The group's admin expenses rose from £7.3m to £11.1m.During the period the company closed its search marketing and web design division, dotagency, choosing to focus on its core product, dotmailer, which has helped it sign larger clients with higher monthly spends.Chief executive Peter Simmonds, said the new financial year has "started well" with sales in line with internal plans."Demand for email marketing and marketing automation continues to be strong both in the UK and internationally and whilst the sector is competitive the board believes that the dotmailer platform is well placed to continue to generate strong organic growth in revenues over the coming year."The group unveiled a final dividend payment of 0.2p per share and said its year-end cash totalled £9.3m.