Revenue up as Microlise weathers ‘perfect storm’

Listed transport management software provider Microlise says it has enjoyed a healthy start to 2022 despite a “perfect storm” of problems including a global microchip shortage hitting the sector.

In a trading update this morning (28 July), the Nottingham-based company said its annual recurring revenue increased by 10.5% to £40.2m in the six months to 30 June, and that it now expects its full-year revenue and profits to be in line with market expectations.

Microlise also revealed that its CFO Bill Wynn is to retire next year.

CEO Nadeem Raza said: “2022 has shown the vital role Microlise plays in supporting the transport industry through a challenging period. A perfect storm of problems has hit the sector, including the pandemic, Brexit, driver shortages, and a fuel crisis. Fuel accounts for a third of all transport costs and Microlise’s technology gives customers greater visibility and control over their fleets’ fuel consumption.

“Our healthy commercial performance with new customers signing up and existing customers extending their relationships shows how critical Microlise is to our client’s fleet operations. The successful return of the Microlise Transport Conference further highlighted our position as a key industry component.

“Looking ahead, the Group has a healthy pipeline of opportunities. We are focused on delivering our acquisition strategy and developing and expanding our product portfolio. In the long term, operators face growing pressure to ensure that fleets are efficient and sustainable. As a result, we are confident the business will meet expectations for the full year and deliver long-term value to our shareholders.”