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Date: Thursday 04 Sep 2008

LONDON (ShareCast) - Payments service provider DataCash remains upbeat about hitting targets for the year after reporting a 24% hike in both pre-tax profit and revenue during teh first half.

Profit before tax for the six months to 30 June rose to £3.17m from £2.55m in 2007 on revenue of £12.23m versus £9.86m a year ago. Adjusted pre-tax profit rose 19% to £6.3m.

“We continue to seek earnings accretive strategic acquisitions to develop the business and to evaluate the opportunities that m-commerce and pre-pay may provide in the future,” said the firm.

“Despite the current pessimism regarding the UK economy, the board is confident of achieving its full year outlook,” added chairman Ashley Head.

The interim dividend rises a third to 0.4p a share.

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