Software firm’s momentum raises expectations
Software company eg Solutions is continuing its strong momentum and now believes it will outperform expectations this year.
The Stafford-based firm had a strong second half of its last financial year, to January 2017, and has maintained that in the last six months.
It is now forecasting full-year revenues to be around 30% higher than last year, and be “not less than £10.5m”. It expects its adjusted EBITDA – a measure of profitability – to jump 50% to at least £1.9m.
In a statement to the stock market, eg Solutions also highlighted the growth in revenues for future years that are already contracted, which have increased by a further 14% to not less than £21.1m. It attributed the rise to its managed cloud services division, the contracts for which are longer term in nature.
The back-office workforce optimisation company works for a number of multinational blue chip companies, and in March announced a £2.2m, three-year deal with an unnamed global bank.
The company’s share price has recovered after a difficult 2016 and last night’s close of 82.5p was double its value just five months ago.
