Ingenta PLC on Monday announced an increased interim dividend as revenue climbed and administrative costs decreased significantly in the first half of 2023.

The Oxford, England-based provider of software and services to the publishing industry said pretax profit in the first half of 2023 surged to £1.5 million from £536,000 a year prior.

Revenue grew 9.0% to £5.7 million from £5.3 million. Meanwhile, administrative expenses decreased 31% to £1.3 million from £1.9 million.

Ingenta declared an interim dividend of 1.5 pence per share, up 25% from 1.2p a year ago.

Looking ahead, the company said that the first half of the year is traditionally seasonally stronger. It expects that earnings before interest, tax, depreciation and amortisation for 2023 will be ahead of market expectations. Adjusted Ebitda had grown 26% year-on-year in the first half of 2023, to £1.6 million from £1.3 million.

Ingenta shares rose 7.2% to 124.84p each on Monday morning in London.

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