Revenues leap at Ruddington software firm
Ruddington software firm Ideagen has reported “strong” results for the six months to 31 October.
The company released unaudited results to the London Stock Exchange this morning (22 January) which saw revenue leap by 22% to £21m, while EBITDA was up by the same percentage to £5.8m.
The results come on the back of the £20.5m acquistion of Leeds-based Morgan Kai Group and a £3.5m swoop for Irish firm Scannell.
Ben Dorks, chief executive, said: “We are delighted to report on another strong performance from the Group across all of our vertical markets and geographies during the first half of the year.
“The Group continues to generate significant international sales growth and momentum in our SaaS business driven by customer demand. This will enable the acceleration of our transition to a subscription licence model whilst maintaining high margins and organic growth.
“Current trading is in line with market expectations and the acquisitions made in H1 are performing well. The IRM market continues to grow and our success in winning new business together with our levels of recurring revenue and repeat business from our 4,000 strong customer base provides the Board with confidence in the outlook for this year and beyond.”
