Trading update28 Apr 2017 08:39
Highlights
· Revenues:
o up 6% year on year
o up 7% like for like1
o recurring revenue2 up 18% to £9.8m (2016: £8.3m)
· New orders booked up 37% year on year, benefitting FY18 and beyond:
o like for like growth of 33%
o recent substantial contract extension with Young Marmalade
· 26% increase in units reporting to our servers to approximately 191,000 at year end (2016: approximately 151,000)
· Financial performance in line with February 2017 revised expectation
· Year-end net debt3 of £3.9m (2016: £1.1m):
o Placing of £2.1m completed in March 2017 to strengthen balance sheet and provide working capital
NOT BAD LADS.