(Alliance News) - Cloud communications firm IMImobile PLC on Tuesday reported a "strong" set of annual results, with revenue growth coming in at nearly 30%.
Pretax profit for the 12 months to March fell 73% to GBP710,000, the company reported, but revenue rose 28% to GBP142.7 million, and 17% of that was organic.
The dip in profit was due to extra operating costs, higher depreciation and amortisation charges, and a rise in share-based payments.
IMImobile's Chief Executive Jay Patel said: "We are pleased with the strong results and momentum we have in the business. This reflects the market dynamics shifting towards more automation and the use of digital channels for delivering better customer experiences.
"We have a great modular set of consumer engagement products and have invested significantly in IMIconnect, our Enterprise CPaaS offering, that we believe, in its category, is one of the most advanced platforms globally. We enter the new trading year with strong momentum and are confident in delivering continued organic growth across all parts of the business."
The Europe & Americas segment, which makes nearly three-quarters of IMImobile's gross profit, had a good year, increasing organic gross profit by 16% and total gross profit by 43%.
The Middle East & Africa, which generates 15% of gross profit, did well in South Africa, but the mobile operator business in Africa as a whole had a tough year. As a result, gross profit fell 19%.
Lastly, Asia-Pacific, which makes up the rest of IMImobile's gross profit, delivered "strong" organic growth.
Looking ahead, IMImobile said: "The 2020 financial year has started well with trading in line with expectations. We continue to have good earnings visibility due to our established client relationships, a healthy pipeline of new deployments, and a high proportion of recurring customer revenues.
"We are confident in delivering continued organic growth across all regions of the business."
Shares were 0.8% higher on Tuesday morning in London at 324.50 pence each.
