Nottingham software firm anticipates strong results
Transport software specialist Microlise has accelerated its performance, with profits for 2023 expected to be “slightly ahead” of market expectations.
Consensus forecasts were predicted adjusted EBITDA to be £9.1m-£9.2m, but Microlise will report growth of 14%, to achieve £9.4m.
Revenues have increased at the same rate – up 13% to £72m.
Nadeem Raza, chief executive of Microlise said: “Trading momentum improved in the second half supported by an increase in delivery to direct customers towards the end of the period and strong uptake from OEM customers. This continues to drive double-digit growth in ARR, an increasing base of recurring revenues and good cashflows.”
Microlise has also announced three acquisitions this year, with a maximum consideration of £10.7m.
Raza added: “The three acquisitions made during the period have resulted in an improved and expanded offering which is already having a positive effect on trading momentum and pipeline. This, together with the resolution of the microchip supply crisis, gives us confidence in the Group’s continued success.”
Founded in 1982, Microlise has a workforce of 500 employees worldwide, with 350 individuals stationed at its Nottingham headquarters. The company primarily operates in the UK market and maintains additional offices in France, India, and Australia.
