Datalex reports 69% increase in after tax profit to $2.7m

Irish travel software company Datalex has reported a 69 per cent increase in profit after tax to US$2.7m (€2.4 million) for the year ended 31 December 2014.

The company recorded a 9 per cent increase in total revenue to $41.4 million (€37.8 million) for the year, compared to $38.1 million a year earlier, on the back of significant customer growth.

Last year saw the company sign contracts with a number of new customers including Swiss International Air Lines and West Air of China. In the fourth quarter of 2014, the company signed a technology partnership agreement with Abacus Travel Systems of Singapore, a provider of IT products and services to over 44,000 travel agency locations across Asia-Pacific.

Datalex, which said one billion people had used its software to shop for their travel needs last year, also proposed a 50 per cent increase in its dividend to 3 US cents per share.

Datalex chief executive Aidan Brogan said 2014 was a year of continued performance and growth for the company.

“We have not only delivered double digit growth in adjusted EBITDA, but also secured significant new business wins. These new wins will drive our growth in the years ahead and further expand our market presence”.

Founded in 1985, Datalex is headquartered in Dublin, and maintains offices across Europe, USA and China. Its customers include Aer Lingus, Air China, Air Transat, Delta Air Lines, JetBlue Airways, SITA and Virgin Atlantic.

The company increased its cash reserves to US$18.3 million last year.