Kalibrate fuels expectations with strong debut result
KALIBRATE Technology, the Manchester company which provides software to petrol retailers, has reported strong maiden full year figures as a public company, with growth in new markets fuelling performance.
The group which joined AIM in November 2013 said it had opened offices in Malaysia, Mozambique, New Zealand, Brazil and the Philippines, while its has announced plans to launch a presence in Bangkok and Melbourne in the near future.
Results for the year to the end of June 30 showed revenues rising 18.8% to $28.8m (around £18m), with the increase driven by its pricing and planning businesses. Underlying EBITDA rose 15.2% to $3.6m £2.2m).
Chief executive Bob Stein said new contract wins and other growth has taken Kalibrate’s opening 12-month order book at July 1 to $22.m, from $16.3m in 2013.
He said: “This year, Kalibrate has delivered upon a number of the strategic goals that were outlined when the company joined the AIM market. We have made solid progress, achieved a strong financial performance, retained existing and won new clients and invested further in our product offering and technology to enable us to retain our market leading position.
“The board is pleased with the progress made during the group’s maiden year as a quoted company. Kalibrate has developed into a more diversified company, both through the evolution of its suite of solutions and services and also through our expanding geographical footprint.
“This together with the quality and experience of our staff, growing qualified pipeline, positive market conditions and trends of price deregulation and continuing industry consolidation gives us confidence in being able to serve our clients successfully in the future. “
Last week the company launched a new Kalibrate Cloud product as it aims to increase new client acquisition via a software-as-a-service model rather than a licence.
Looking ahead, Mr Stein added: “As we enter a new financial year, we remain committed to executing on our stated strategy and based on this momentum the board expects to see continued progress and looks forward to the future with confidence. The board remains confident that the group is on track to achieve its current targets for the coming year.”
