Sidetrade Reports 21% Revenue Growth for First Half 2017
Software company Sidetrade announced its first-half 2017 results, showing a 21% increase in revenue to €10.8 million. Net profit rose by 9% to €1 million.
Software firm Sidetrade reported a significant increase in revenue for the first half of 2017, with sales reaching €10.8 million, a 21% rise year-on-year. The company's net profit also saw an increase of 9%, totaling €1 million.
This period marks Sidetrade's most successful first half to date. The growth was supported by securing new contracts with prominent clients, including KPMG UK, STEF Group, and House of HR.
The company's operating profit stood at €1.1 million, up 4% from the previous year. This figure incorporates a loss of approximately €0.8 million resulting from the acquisition of BrightTarget and Iko System, consolidated into the group from January 1, 2017. Excluding these acquisitions, the operating profit would have shown a 72% increase.
Sidetrade also launched its new strategic plan, AIM 2020, aiming to double revenue by 2020. The plan emphasizes leveraging artificial intelligence for customer relationship management.