12th Feb 2015 10:09
LONDON (Alliance News) - Back-office software company EG Solutions PLC on Thursday said it expects its results for the year to January 31 to be slightly ahead of market expectations.
Revenue increased by around 67% year-on-year, the company said, pushing the company back to profitability, having reported a GBP1.5 million loss last year.
Recurring revenue rose 69% year-on-year over the year and now represents around 50% of total expected revenue for the new financial year to January 2016, it said. The group said it now has an order book of around GBP15 million, which will be recognised over the next three to four years.
EG will publish its full-year results on March 25.
Shares in EG were up 1.9% to 75.9 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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