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LONDON (Alliance News) - Netcall PLC on Tuesday said its profit decreased significantly in its recently ended financial year after it bought MatsSoft Ltd.
The customer engagement software provider said pretax profit dropped sharply to GBP45,000 in the year to the end of June from GBP1.7 million reported a year prior, despite revenue rising to GBP21.9 million from GBP16.2 million.
The company also posted a rise in administrative expenses to GBP19.0 million from GBP13.2 million, and also booked an impairment charge on intangible assets of GBP792,000.
In August last year Netcall acquired MatsSoft for GBP13.4 million to complement Netcall's Liberty platform, enhancing its ability to drive organisations' digital programmes more effectively, as well as accelerate Netcall's migration to the cloud platform.
As a result, revenue from Cloud services multiplied to GBP4.3 million from GBP1.1 million reported a year earlier. Communications services revenue also grew to GBP2.3 million from GBP1.5 million year-on-year, while Professional Services revenue jumped to GBP3.3 million from GBP1.9 million.
"We are delighted to report on a significant year for Netcall. The acquisition of MatsSoft, the market leading low-code software provider, has broadened our proposition and expanded the addressable market opportunity into a high growth sector," said Chief Executive Henrik Bang.
"Our high levels of revenue visibility and sales pipeline give the board confidence in the enhanced prospects for the group, for this year and beyond," added Bang.
Netcall shares were trading 1.0% higher on Tuesday at 61.60 pence each.
