UPDATE 2-Alterian FY adj pretax profit rises 48 pct

Wed Jun 3, 2009 6:37am EDT
 
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* FY adj pretax profit 6.2 mln stg vs 4.2 mln stg yr-ago

* FY rev up 73 pct at 33.4 mln stg

* Says confident of outlook for the year

* Shares rise as much as 9.5 percent

(Recasts; adds CEO and analyst comments, stock movement)

By Purwa Naveen Raman

BANGALORE, June 3 (Reuters) - Marketing software provider Alterian Plc (ALN.L) posted a 48 percent rise in full-year adjusted pretax profit, helped by strong recurring revenue, and said it was confident of the outlook for the current financial year, sending its shares up as much as 9.5 percent.

The company, which supplies software to about 1,000 marketing departments across 26 countries, said it continued to trade in line with its expectations since the year-end.

"We had a good start to the year and the pipeline is there to support the market expectations," Chief Executive David Eldridge said by phone.

For the year ended March 31, adjusted pretax profit rose to 6.2 million pounds ($10.27 million) from 4.2 million pounds in the year ago period.

Revenue rose 73 percent to 33.4 million pounds, helped by the acquisition of online software firm Mediasurface Plc in July.

"Revenue would have been about 35.4 million pounds if we had Mediasurface for the full year," Eldridge said.

Alterian benefits from its broad-based geographic markets and a higher recurring revenue base, which is typically 60 percent to 70 percent of revenue in a year.

Revenue from the UK, Europe and Asia Pacific more than doubled to 20.5 million pounds, while North American revenue rose 26 percent.

Separately, Alterian signed a new agreement with Acxiom Corp (ACXM.O) to introduce the U.S.-based firm's products, which incorporate Alterian's technology, into new markets such as Europe and Asia Pacific.

Eldridge said the company was hoping to generate "good income" from the agreement, but declined to give details.  Continued...