Datalex claims to be well-positioned for sustainable profit growth

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Datalex claims to be well-positioned for sustainable profit growth
Datalex claims to be well-positioned for sustainable profit growth

The chief financial officer of Datalex has said the company is “well-positioned” to return to profit.Niall O’Sullivan also said the troubled travel software company – which provides e-commerce capabilities for travel booking firms and airlines including Aer Lingus – expects to report earnings figures for 2019 ranging from a loss of $1m to a profit of $1m.The pronouncement was made hours before the company holds its long-delayed annual shareholders’ meeting in Dublin this morning.Earlier this month, Datalex – which has been dogged all year by an internal accounting scandal, with far-reaching consequences – finally revealed a net loss of $50m (€45.4m) for 2018, compared to a profit of just over $7m for 2017.“The comprehensive review of our cost base and numerous corrective actions taken ensures the company is now well positioned to return to stable and profitable growth,” Mr O’Sullivan said.Datalex also said, recently, that the ODCE – the State’s corporate watchdog – is looking over an independent review, carried out by PwC earlier this year, into the company’s accounting procedures.READ MOREAn Bord Pleanála to continue prioritising large-scale housing appeals

Source: Business News