(Alliance News) - Alfa Financial Software Holdings PLC on Thursday upped its full-year revenue expectations by GBP1.5 million, after a "strong finish" to 2022.
Alfa Financial Software is a London-based software developer for the financial industry. Its shares were up 3.0% to 174.00 pence each in London on Thursday morning.
The company said it performed "strongly" in the final quarter of 2022, with strong revenue generation across all business streams.
"Our progress to a fully subscription-based model is reflected in the continued strong performance of subscription revenue. Software revenue has benefited in Q4 from strong delivery of development days and we have also seen an increase in services revenue," it explained.
Alfa's delivery track record continued into the fourth quarter, with six upgrades in the period bringing the total number of client deliveries in the year to 28. It noted that this is a "record" number of deliveries.
The company said the "strong finish" to the year has resulted in its expectations for 2022 full year revenue increasing by GBP1.5 million, with all of this falling through to operating profit.
In 2021, Alfa reported revenue of GBP83.2 million and operating profit of GBP24.7 million.
The company will report its full year results for 2022 on March 2.
Chief Executive Officer Andrew Denton said: "I am delighted that we continue to perform very strongly both operationally and financially. We start 2023 with excellent momentum and we remain confident in the resilience of our markets, the strength of our product, people and our delivery record."
By Sophie Rose, Alliance News reporter
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Alfa Fin (ALFA)