The Rhipe Ltd (ASX: RHP) share price hit a 52-week high of $1.55 today despite the IT services company releasing no specific news to the market. Rhipe is scheduled to report its half-year results on February 18.
In fiscal 2018 the provider of cloud and general IT support services posted an operating profit up 54% to $7.8 million on revenue of $196.6 million, which was up 25%. Over the year it also bought back 3.4 million shares and paid a 1.5 cents per share dividend.
For the quarter ending September 30 2018 Rhipe has already reported that revenue grew 30% to $5.5 million to produce an operating profit of $2.8 million or reported EBITDA of $2.1 million.
The board is guiding for a fiscal 2019 operating profit between $10.5 million to $11.5 million.
As investors can see profit, revenue, and dividend are all growing strongly, and this will almost always translate into a rising share price if sustained over a few years.
