Microlise eyes strong year after ‘double-digit growth’
Transport management software provider Microlise has reported “double-digit growth” despite facing a difficult start to the year.
The Nottingham-based firm experienced an increase in total revenue in 2023, up 23% to £71.7m. Adjusted EBITDA – which is a measure of operating profitability – increased by 15% to £9.4m.
The stock market-listed firm said its recent acquisitions of Transportation Management System (TMS) providers, Enterprise Software Systems, Vita Software, and vulnerable road user app supplier K-Safe, “are trading in line with our expectations”.
Nadeem Raza, chief executive of Microlise, said: “Microlise performed well in FY23, delivering double-digit revenue growth, increased profitability and strong cash flows. During this period, we secured the renewal of several major customer contracts and significant new logo wins. We are continuing to build a resilient business to deliver sustained, efficient growth having made three key acquisitions that have enabled us to improve and expand our product offering.
“Our focus remains on scaling our business and increasing margins through consistently improving the efficiency of our business. With the supply chain issues in the first half of the year now fully behind us, and with a strong order book and healthy pipeline, we look forward to 2024 with confidence.”
