2nd Mar 2023 13:24
(Alliance News) - Alfa Financial Software Holdings PLC on Thursday said full-year revenue was up, boosted by subscriptions, as profit surged by a fifth.
The London-based software developer for the financial industry reported revenue of GBP93.3 million, increasing 12% from GBP83.2 million a year ago. Alfa noted that it saw growth across all four of its revenue streams.
The company said 75% of its revenue in 2022 is recurring, being made up of subscription revenue and software revenue with existing customers.
Alfa said pretax profit was GBP28.9 million, increasing 21% from GBP23.8 million in 2021.
The company proposed a final dividend of 1.2 pence per share, increasing 9.1% from 1.1p per share in 2021, bringing the total to 7.6p per share. Alfa also declared a special dividend of 1.5p per share.
Alfa said it is confident of future growth, due to its strong pipeline. Total contract value in 2022 grew by 7% to GBP143 million, from GBP133 million in 2021.
Chief Executive Officer Andrew Denton said: "We have delivered a strong financial and operational performance in 2022 and we have made significant progress towards our strategic goals. We are particularly pleased with the quality of our revenues with 75% of our overall revenues being recurring in nature.
"We continued to invest in our class-leading product with Alfa Systems 5.7 being released during the year and we have had another record year of delivering for our customers. All of this along with the strength of our late-stage pipeline, the quality of our people and the demonstrable strength of our culture gives us great confidence in Alfa's prospects for 2023 and beyond."
Alfa shares were flat, trading at 161.50 pence per share on Thursday afternoon in London.
By Harvey Dorset, Alliance News reporter
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