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DRS 'e-counts' tripled first half profits

Written by News Desk

Thursday, 13 September 2007

The supply of e-Counting services to the Scottish elections last May has more than tripled first half pretax profits for data capture company DRS Data & Research, but it says that the performance can't be sustained into next year. The supply of e-Counting services to the Scottish elections last May has more than tripled first half pretax profits for data capture company DRS Data & Research, but it says that the performance can't be sustained into next year. The MK-based firm said that pretax profit had jumped to £1.19m for the six months to June, compared to £336k for the same period last year, on the back of a 57 per cent increase in revenues to £14.1m. The company said that a considerable portion of the period was lent to delivering services to the Scottish elections, which generated more than half of the period's revenue at £7.5m. All 32 of the Scottish local authorities signed contracts for DRS to supply e-Counting services for the Parliamentary and local elections which were held on 3rd May 2007, the firm said. DRS said that it expects its performance in the second half of the year to be comparable to the same period last year, and is confident of the future based on recent overall progress, but does not anticipate the level of sales in 2008 to match those of 2007 as “the outlook for the future still depends on large contracts that do not occur on an annual basis,” it said. Issue of the results has seen a healthy eight per cent leap in the company's share price, rising 2.5p to 32.5p.

 

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