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124.00 -3.00 (-2.36%)

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Spread: 2.00 (1.626%)

Market Cap: £211.54m

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Netcall secures $19m multi-year contract with financial services firm

Fri, 10th Jun 2022 08:46

(Sharecast News) - Software firm Netcall has secured a significant multi-year contract with an S&P 500-listed international financial services firm with operations spanning 120 countries.

Netcall said on Friday that the initial three-year subscription contract for its Liberty platform was valued at $19.0m and was expected to generate similar margins to the AIM-listed company's overall group margin - providing "a significant contribution" to full-year revenue and profits.

As a result, Netcall now expects full-year adjusted underlying earnings to be "significantly ahead" of previous expectations.

Chief executive Henrik Bang said: "This landmark contract demonstrates the quality of the Liberty platform and its ability to support the world's largest companies in their digital transformation efforts. Having successfully deployed initial applications in North America and Europe, the customer will now use Liberty low-code and RPA across its global operations.

"As well as providing a significant increase in revenue and profits to the group, the contract further strengthens Netcall's presence in the financial services industry, marking another step forward in the evolution of the company."

As of 0845 BST, Netcall shares surged 26.33% at 82.11p.

Reporting by Iain Gilbert at Sharecast.com