UTI Group returned to profit in the first half of the year, as the IT services company benefited in particular from its move into the French provinces.

In the first six months of the year, the digital services company (ESN) posted sales of 11.2 million euros, compared with 10.7 million euros in the first half of 2022, representing an increase of 4.7%.

This business development was accompanied by an improvement in all its profitability ratios, with operating income before non-recurring items of 321.000 euros at June 30, 2023, compared with a loss of 60,000 euros a year earlier.

Net income came to 143,000 euros at the end of the first half of 2023, compared with a loss of 284,000 euros in the first half of the previous year.

Despite global economic uncertainties, the company claims to have solid fundamentals enabling it to anticipate further growth in 2023 and an improvement in its operating profitability.

UTI shares were up 6% in early afternoon trading.

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