(Alliance News) - Netcall PLC on Wednesday expressed confidence for future prospects following 4.6% growth in revenue in its most recently ended financial year.
The customer engagement software provider expects to report revenue for the year to the end of June of GBP22.9 million, up from GBP21.9 million reported a year prior.
However, Netcall said adjusted earnings before interest, taxes, depreciation, and amortization will total GBP3.4 million for the year, down 35% from a year earlier.
During the year, the AIM-listed company's cloud services bookings almost tripled to GBP7.6 million, it said, illustrating strong momentum in the company's cloud business.
Total low-code annual contract value has continued its growth, Netcall highlighted, and is up 36% year-on-year to GBP4.5 million.
"The group's cloud services bookings exceeded traditional product sales for the full year which was mainly driven by strong low-code sales to both new and existing customers," explained Chief Executive Henrik Bang.
"The group's cash position increased significantly in the period which combined with high recurring revenues and a strong product portfolio, gives the board confidence in the prospects for Netcall," added Bang.
As at June, the company's cash position was GBP7.8 million, ahead of expectations and more than offsetting its existing debt of GBP6.6 million.
Netcall shares were trading 15% higher on Wednesday in London at 34.96 pence each.
The company will announce its annual results on September 25.
Netcall (NET)