Castleton Technology posts solid first-half growth
Castleton Technology
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Public and not-for-profit sector software and managed services provider Castleton Technology updated the market on its trading for the six months to 30 September on Monday, reporting that revenue and profitability for the period had grown organically by around 10%, supporting a full year performance in line with market expectations.
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The AIM-traded company said strong operating cash generation in the period facilitated a continued reduction in net debt, which decreased to £7.9m at period end from £9.4m as at 31 March.
It said it expected to announce its results for the six months to 30 September on 7 November.
“I am pleased with the progress Castleton has made in the period and as such, the group remains on course to meet expectations for the full year. Our financial performance, along with a number of significant milestones previously reported to the market, including the delivery of the integrated product suite, is particularly pleasing,” said chairman David Payne.
“This demonstrates the capability of the group to deliver on its strategy and increase our share in our chosen markets.
“The board remains very confident about Castleton's future prospects.”