21st Nov 2019 09:34
(Alliance News) - Blue Prism Group PLC said Thursday that "significant acceleration" in sales in the second half of the year contributed to a "very strong" full-year performance.
Blue Prism shares were up 29% in London at 1,143.0 pence each on Thursday.
In a trading update for the financial year ended October 31, the company said it now expects its revenue to be "at least" GBP98.0 million, compared to GBP55.2 million in 2018.
The robotics firm said sales volumes continued to be high in 2019 and increased deal sizes have driven material additions in the total business generated in the year.
"As a result, the group enters 2020 with a record order book," the company said.
Blue Prism said its total customer base at the end of financial year 2019 was 1,667, an 69% increase compared to 2018, "providing a substantially increased base for the group to upsell into in future periods."
The company said its total business over the period was GBP181 million, compared to GBP143.0 million in financial 2018. Blue Prism defines total business as the total contract value from new customers, upsells and renewals.
It said there was GBP115 million increase in total business won in the second half of the year "generated by strong performances in all the key geographical regions, driven by an increase in deal sizes."
Blue Prism said its exit monthly recurring revenue in October was at least GBP10.4 million, up from GBP6.2 million a year before.
Executive Chair Jason Kingdon said: "We have delivered an excellent performance across 2019, particularly in the second half of the year where we have seen record quarters in each of our key geographies.
"The momentum we have seen this year begins to reflect the investments we made across 2018 and investments we have made in this financial year will now begin to impact 2020 and beyond," Kingdon said.
Blue Prism will report its annual results on Thursday, January 23.
By Loreta Juodagalvyte; [email protected]
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