(Alliance News) - Aptitude Software Group PLC said that it delivered profit in line with expectations for 2023, noting encouragement by the first sale of its finance platform Fynapse to a net new client at the end of 2023.
The London-based subscription management and finance digitalisation company said it had an annual recurring revenue of GBP51.1 million as at December 31, up 1.8% from GBP50.2 million a year ago.
The company expects annual recurring revenue growth to "materially improve" in 2024, adding that profit expectations remain underpinned for the year ahead.
Aptitude Software said it starts 2024 with GBP53.2 million in revenue under contract.
"Long term, the board sees Fynapse as a material accelerator of Aptitude's growth. It is encouraged by the first sale of Fynapse to a net new client at the end of 2023, and is confident in generating further Fynapse sales, both from new logos and across the existing base of clients, in 2024," it said.
The company will release full 2023 results on March 21.
Aptitude Software shares fell 2.6% to 302.00 pence each on Monday afternoon in London.
By Tom Budszus, Alliance News slot editor
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