Location tech firm 1Spatial continues expansion

(Sharecast News) - Location data management technology company 1Spatial said on Wednesday that it was still making "good progress" against its growth strategy, winning new customers amid an "expanding opportunity".
The AIM-traded firm, which was holding its annual general meeting, said that after a strong period of trading in the last quarter of the prior year, it had entered the new year with increased levels of committed revenue and a strengthened financial position.

Non-executive chairman Andrew Roberts said that in line with expectations, order levels for new sales in the current year were higher than in the comparable period, as the group continued to focus on growing recurring licence revenue and securing higher levels of committed revenue.

"The growing need for better quality, shareable location data to support infrastructure investment, new environmental initiatives and innovative digital services is driving increased demand for the group's '1Integrate', '1Data Gateway' and 'Esri arcOpole Pro' offerings across each of its three target sectors - government, utilities and transport," Roberts said.

"New customers secured in recent months include two further US states for next-generation 911 solutions, a new department of Tours Metropole in France, and extensions with the US Federal Highways Administration and the Ordnance Survey in Britain.

"The group has a strong and growing sales pipeline in all regions, both direct and through our valued partners, underpinning the board's confidence in a successful outcome to the year and exciting future ahead."

At 1519 BST, shares in 1Spatial were up 4.32% at 42.25p.