23rd Jan 2020 08:41
(Alliance News) - Blue Prism Group PLC on Thursday said its investments are now delivering returns as annual revenue beat estimates.
Blue Prism shares were trading 11% higher in London on Thursday at 1,368.00 pence each.
The enterprise software company reported a pretax loss of GBP80.7 million for the year to the end of October compared to GBP26.0 million loss a year earlier, as operating expenses jumped to GBP173.5 million from GBP81.1 million.
More positively, Blue Prism said its revenue almost doubled to GBP101.0 million from GBP55.2 million year-on-year.
The improvement was driven by an increase in sales volumes, Blue Prism explained, in particular in upsells, where the company worked with its existing customer base to unlock further revenue.
During the period, Blue Prism said its customer base increased "significantly" to 1,677 customers from 992 a year earlier.
"We have made excellent progress in operations and financial performance during 2019, with revenue and monthly recurring revenue exceeding the levels guided to in our trading update in November," said Chief Executive Jason Kingdon.
He added: "The increasing momentum we have seen as the year progressed reflects the investments we made during 2018 and we expect this to continue, as our 2019 investment programme begins to show returns."
By Evelina Grecenko; [email protected]
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