Investment continues at software firm
CONTINUED investment in innovative software solutions has helped Access Intelligence boost turnover and adjusted earnings.
The York-based software firm today announced a 4% increase in turnover to £8,388,000 and adjusted EBITDA up 57% to £576,000 in its results for the year ended November 30 2013.
However, the group made a loss after tax of £2.6m compared to a £114,000 loss in the previous year.
Michael Jackson, executive chairman, said: “This year we have continued to invest in the strategic development of both the company and its innovative software solutions with 49% of our revenues funding technical and R&D activities.
“During the year we have benefitted from the additional investment made during 2012 and 2013, which can be seen in the new contracts signed during 2013 and the 21% increase in revenues contracted not yet invoiced.”
Access Intelligence, which has a portfolio of Software-as-a-Service (SaaS) brands delivering governance, risk and compliance solutions to the public and private sector, said its development momentum gathered pace through 2013 and spent £4,151,000 across the group on research and development and other technical expenditure.
“2014 will see continued investment across the company’s brands with the full benefits expected to come through in the latter parts of the current financial year,” the group added.
“Our strategy continues to evolve and the potential for synergies and interoperability between our products continues to grow, with customers recognising the potential for considerable benefits from utilising our combined suite of products.”
