By Iain Gilbert
Date: Tuesday 18 Feb 2020
LONDON (ShareCast) - (Sharecast News) - Software-as-a-service provider Essensys said on Tuesday that first-half revenues had grown thanks to some "strong growth" in its US operations.
Essensys reported a 19% increase in revenues to ?11.4m for the six months ended 31 January, with recurring revenues also improving 29% to ?9.7m. Recurring revenues made up 85% of the total revenues.
The AIM-listed group said full-year adjusted earnings before interest, tax, depreciation and amortisation were also expected to meet expectations at ?1.8m. Despite being on track with guidance, that figure will will be a 10% year-on-year decline.
Essensys said the fall was a result of investments in sales and marketing, product development and the expansion of its US division.
Net cash at the end of the half was ?1.7m - slightly ahead of the board's expectations.
Chief executive Mark Furness said: "I am pleased to report continued good progress across our business, with strong sales momentum and a rapidly expanding US business underpinning our long-term growth ambitions.
"This strong first half performance, supported by the number of contracted new Connect sites currently in delivery and a healthy pipeline underpins the board's confidence that full-year results will be in line with market expectations."
As of 1010 GMT, Essensys shares were up 3.91% at 239p.
Email this article to a friend
or share it with one of these popular networks:
Currency | UK Pounds |
Share Price | 19.50p |
Change Today | -0.75p |
% Change | -3.70 % |
52 Week High | 61.00 |
52 Week Low | 19.00 |
Volume | 25,020 |
Shares Issued | 64.68m |
Market Cap | £12.61m |
RiskGrade | 252 |
Value |
---|
Price Trend |
---|
Income |
---|
Growth |
---|
No dividends found |
Time | Volume / Share Price |
16:13 | 1 @ 20.00p |
16:01 | 17,766 @ 19.70p |
15:32 | 1,319 @ 19.00p |
14:35 | 5,000 @ 20.00p |
11:07 | 2 @ 20.50p |
You are here: research