Profits up at Nottingham transport software firm
Microlise, the Nottingham provider of transport management software to fleet operators, has seen revenue and profits rise for the six months to the end of June.
Revenue at the company was up 10.5% to £33.9m, while profit before tax rose by 5.7% to £1.5m.
The results come after the made its first acquisition since being floated when it swooped for Vita Software in a £1.9m deal.
Nadeem Raza, CEO of Microlise, said: “Microlise delivered another strong performance during H1 2023 as we successfully executed our growth strategy. We secured new customers in our key geographies beyond the UK including France, Australia and New Zealand, expanded our customer base, and efficiently integrated our latest acquisition.
“We have successfully navigated the company through global supply chain issues and subsequent delays in new vehicle availability, maintaining strong relationships with our valued customers. We are seeing significant improvements in all these situations, which we expect to have normalised by the start of 2024.
“During the second half of the year, our focus will remain on investing in growth, expanding our product portfolio, and growing our strong customer base and geographical presence. Whilst it is sensible to look to the future with a degree of caution, given the continuing global macro-economic challenges, the company’s positive trading performance during the period and proven ability to navigate these challenges, underpin the board’s confidence that the group’s performance for FY23 will be in line with market expectations.”