7th Feb 2025 17:21
(Alliance News) - Acuity RM Group PLC on Tuesday said revenue climbed in 2024 due to organic growth from existing customers.
The London-based risk management company said it expects revenue to have increased by 50% in 2024, to GBP2.1 million from GBP1.4 million in the previous year.
Forward contracted revenue at December 31 was up 17% to GBP3.4 million from GBP2.9 million at the end of 2023.
The pipeline of sales prospects was steady at GBP7.9 million on December 31, matching the previous year.
Chair Angus Forrest said: "2024 was a year of consolidation following the acquisition of Acuity Risk Management Ltd in 2023. Revenues increased mainly because of the organic growth of business with existing customers and the Rizikon business was acquired towards the end of the period... There is much to do but the market opportunity for management of cybersecurity risk and GRC is large, growing strongly so I expect to be able to report significant progress towards cash generative and profitable trading in 2025."
Acuity RM shares were down 5.1% to 1.76 pence in London on Friday afternoon.
By Michael Hennessey, Alliance News reporter
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