25th Mar 2015 08:37
LONDON (Alliance News) - Eg Solutions PLC Wednesday said it's confident it can continue momentum into the current year, as it swung to a profit in its recently ended financial year thanks to 69% revenue growth driven by ten significant contract wins, international expansion and increasing traction for its managed cloud services product.
The back-office software company said its contracted order book for the next two years stands at GBP7.6 million, up from GBP6.0 million in 2014, and stands at GBP15.4 million over the next four years.
For the year to end-January the company posted a pretax profit of GBP407,000, compared with a pretax loss of GBP1.5 million a year before, as revenue rose to GBP7.5 million from GBP4.5 million.
Eg Solutions cited a growing trend of businesses looking to improve their customer service, operational efficiency, cost control and risk management as a drive for its products. It won ten significant contracts during the year, including for its managed cloud services product, helping to increase recurring revenue levels.
The company said it will continue to invest in its product in 2015, whilst also building its sales and marketing, and looking at strategic acquisitions as and when opportunities arise.
"Building on the steps we have taken to build a robust platform for growth during the past year, the Board is confident that the Group is well positioned to continue momentum into the coming year," said Chairman Duncan McIntyre in a statement.
Shares in Eg Solutions are trading up 14.1% at 77.00 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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