Netcall Share News (NET)

(Sharecast News) - Intelligent automation and customer engagement software company Netcall updated the market on its trading for the year just ended on Monday, saying it expected its full-year results to be in line with market expectations, which were updated at its interim results.
The AIM-traded firm said revenue growth was expected to be about 8% to £27.2m, and adjusted EBITDA growth was anticipated to be around 20% to £5.3m.

Cloud services annual contract value increased 25% to £9.4m for the year ended 30 June, and now represented more than half of total annual contract value, which increased 10% to £18.5m.

The group's cash position at year-end was £14.5m, up from £12.9m at the half-year on 31 December.

Netcall said its normalised cash position increased to £13.1m from £10.7m, excluding deferred VAT, which exceeded borrowings of £6.9m, up slightly from £6.8m over the second half.

"Netcall delivered another strong performance with increased uptake of our Liberty platform and I am pleased to report good growth in both revenue and profitability," said chief executive officer Henrik Bang.

"Sales momentum was particularly robust for our cloud solutions which experienced good demand across our key markets.

"As a result, cloud recurring revenue exited the period as the Group's biggest revenue stream growing 26% during the year."

Bang said the company had entered its new financial year with a "strong" pipeline and a "substantial" market opportunity, supported by an "extensive" customer base and expanding product offering.

"This, combined with a healthy balance sheet and high levels of recurring revenue, provide the board with confidence in the group's continued success."

Netcall said it would announce its audited results for the year ended 30 June on 6 October.

At 1345 BST, shares in Netcall were up 1.01% at 72.22p.