D4T4 Solutions down on lower revenue

The share price of IT services provider D4T4 Solutions (LON:D4T4) has dropped by 7.44% to 199p (as of 11:45 GMT) after revenues for the six months to 30th September fell by 37% relative to last year’s comparative period. Despite an uptick in margins, adjusted pre-tax profits for the half year fell by 77%.

The company commented that: “Overall, our business is in a good position and together with a strong pipeline of opportunities makes this an exciting time for the Group.”

“Our prospects for H2 are strongly underpinned by a high level of contract renewals from new licences signed during the second half of last year and strong visibility on new contracts due to initiate during H2. This, combined with a significant pipeline of new business in negotiation with existing clients wishing either to increase the footprint of our software or to extend the use of our Hybrid Cloud Data Platform solution“.