ClearStar Inc (LON:CLSU) expects to report first-half year-on-year revenue growth of approximately 12% to US$8.9mln, the highest level of revenue it has generated in a six-month reporting period.
In a trading update for the six months ended 30 June 2017, the technology and service provider to the background check industry said the momentum it gained in 2016 in upscaling its direct client base and traction with its Sphere global platform continued into the first half of 2017.
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The company said growth has been driven by the its direct sales, with particular demand from the transportation industry as well as home healthcare. It added that its Channel Partner division also performed well.
The group added that is also no longer being impacted by the attrition previously experienced from the SingleSource client base.
As a result, ClearStar said it remains confident of achieving strong full-year revenue growth in line with market expectations.
The firm added that revenues in the first and second quarter were approximately 13% and 10.5% higher respectively than the comparative periods of the prior year, and sequential half-year revenue growth was approximately 10%.
ClearStar said it is gaining increasing traction with its global offering and remains confident of generating meaningful revenue from global sales during full-year 2017.