Datalex reports 18% jump in transaction revenue

Travel software firm Datalex has reported an 18 per cent jump in transaction revenue - its key value driver - for the first quarter of 2014.

In an interim management statement issued ahead of its AGM today, the company, which is backed by businessman Dermot Desmond, said it had signed up a number of new customers, including Brussels Airlines, which is a member of the Lufthansa Group, and Air Transat, Canada's leading holiday travel airline.

Datalex said it was planning to open a new office in Beijing in the middle of the year to support "both our existing business in the region and our expanding pipeline of opportunites" in China.

It also expects to announce new customer signings before the third quarter of this year.

The company said its financial position remains strong with cash reserves of $16.9 million.

It maintained its previous projection for adjusted earnings growth of 18-20 per cent for the full year.

“ Our performance to date in 2014 gives us confidence that we are on track to meet this objective, and with the new customer deployments currently underway and new customer signings to date in 2014, we believe our business is well positioned for sustained growth.”