Netcall reports sustained positive trading momentum
By Josh White
Date: Tuesday 19 Dec 2023
(Sharecast News) - Automation and customer engagement specialist Netcall said in an update on Tuesday that it saw sustained positive trading momentum in its first half, aligning with management expectations.
The AIM-traded firm, which was holding its annual general meeting, said it experienced a surge in demand for its Liberty Cloud solutions, with new customers embracing the offerings.
That surge drove double-digit growth in annual contract value (ACV) alongside solid profitability.
The board said the trend of increased interest in cloud-based contact centre solutions, seen in the prior year, continued.
Netcall said it initiated its previously-announced accelerated investment in the area by successfully migrating and launching its first cloud contact centre customers in a single public cloud environment.
The company said it had a robust pipeline, a healthy balance sheet, and an innovative product roadmap, including investments in artificial intelligence and intelligent automation.
It said the strategic investments aimed to serve a growing market, bolstering the board's confidence in the company's ongoing success.
Following the end of the meeting, several changes to the board would come into effect, as announced on 20 November.
Non-executive director Tamer Ozmen would step down from the board, while non-executive director Nigel Halkes and chief financial officer Richard Hughes would be co-opted to the board.
Additionally, the previously announced changes to the chair and chief executive officer roles would take effect on 1 January, with Michael Neville set to retire from the board on 29 February.
At 1401 GMT, shares in Netcall were up 7.54% at 89.8p.
Reporting by Josh White for Sharecast.com.
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