8th Apr 2019 09:23
LONDON (Alliance News) - Castleton Technology PLC on Monday said it expects to report a double-digit increase in revenue in its recently ended financial year, thanks to continued good organic growth.
Castleton is a provider of integrated technology solutions within the social housing sector.
For the year that ended on March 31, the company anticipates to generate revenue not less than GBP26.3 million, while adjusted earnings before interest, taxes, depreciation, and amortization is anticipated to total not less than GBP6.3 million.
In its financial 2018, Castleton delivered revenue of GBP23.3 million and adjusted Ebitda of GBP5.1 million, meaning that it expects at least 13% and 24% growth year-on-year, respectively.
"I am pleased with the progress Castleton has made over the past year," said Chief Executive Dean Dickinson. "The group has achieved a number of key operational milestones, notably, the delivery of our integrated product suite for two customers, a significant contract win with Connect Housing Association for the fully integrated solution and an additional managed services contract with DGHP for Unified Comms."
Dickinson added: "The market opportunity remains large and given the group's established position serving the social housing sector and the cross-selling opportunities, the board continues to be optimistic about the group's growth prospects."
Castleton said it will announce its annual results in June.
Castleton shares were down 0.5% on Monday morning at 111.00 pence each.
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