Tech solutions provider posts increase in revenue as market conditions improve
Microlise Group, the SaaS-based transport technology provider, has posted healthy financial results, with revenue growth attributed to improving market conditions.
Total revenue grew to £39.1m, up from £33.9m in H1 2023. The 15.3% increase has been attributed to recurring revenue and the integration of acquisitions, Enterprise Software Systems (ESS) and Vita Software.
The Nottingham-based said that “component supply issues have been resolved, and localised delays in new vehicle rollouts are expected to clear by year-end”.
While overall performance was strong, the company faced challenges in Australia, where vehicle availability issues temporarily delayed new project deployments in the region.
Nadeem Raza, CEO of Microlise, said: “The positive reception to our new products, coupled with the continued integration of our recent acquisitions and the increasing interoperability of our solutions, has enhanced the appeal of our offering. As a result, we are seeing improvements in our sales pipeline both in the UK and in target geographies where our brand is becoming increasingly recognised.
“With the appointment of a new chief revenue officer, we hope to be able to accelerate the growth of our pipeline while improving its conversion into contracted business. The company confidently looks to the future and expects to meet market forecasts for the full year.”
