Share price soars at Microlise after upbeat trading update
The share price at transport technology provider Microlise soared on Tuesday (28 January).
Investors piled in to send the Nottingham firm’s shares rocketing by over 24% to 114.3p by close of trading – up 22.3p on their opening price.
Earlier on Tuesday, Microlise reported that it expected strong figures for its full-year 2024 period.
Total revenue for 2024 is expected to reach £81m, up 12.9% from £71.7m in 2023, bolstered by the acquisitions of K-Safe and Enterprise Software Systems (ESS) in January 2024.
Microlise secured new customers in Australia, New Zealand and France, along with growth in the UK through additional sales to existing clients.
The Microlise group added 375 new customers in FY24, including WooliesX in Australia, GSF in the UK, Foodstuffs South Island in New Zealand and STAF in France.
Nadeem Raza, CEO of Microlise said: “The business demonstrated growth across all geographies, and the addition of newly acquired products enabled us to provide more solutions to existing customers. We have signed several new TMS contracts following the acquisition of ESS at the start of the year, which is particularly pleasing.
“The business responded well to the cyber incident in October, resulting in minimal impact to the forecast FY24. I would like to thank all our staff for their hard work and dedication in restoring services for our customers, and our customers for their patience and understanding during this period.
“The outturn for 2024 shows a strong business with a healthy pipeline and puts us in a great position to take advantage of opportunities in 2025.”
The group expects to publish its full-year results in late March.
