Appen Limited (ASX: APX) – Appen moves up on higher interim revenue

Appen moves up on higher interim revenue

Appen Limited’s (ASX: APX) revenue doubled in first half year ended 30 June 2018, recording increase of 106% to $152.8 million compared to previous corresponding period. It is mainly due to Leapforce acquisition as well as organic growth in company’s Language Resource division and Content Relevance division.

This machine learning software company has outlined 73% growth in statutory net profit after tax of $14 million on the back of high EBITDA margins and strong growth in organic revenue during 1H18. Interim dividend of 4 cents per share was declared during the first half year 2018, payable on 21 September 2018. This fully franked interim dividend is 33% more of what company has paid in 1H17.

Earnings before interest tax, depreciation and amortization for the year ending 31 December 2018 is expected to be in the range of $54 million to $59 million.

After releasing tremendous growth driven by the acquisition of its competitor and expansion of work with current customers, Appen Limited surged 4.844% to $14.825 on 28 August 2018.

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