18th Aug 2020 15:30
essensys PLC - London-based provider of software-as-a-service platforms and cloud services to the flexible workspace industry - Said revenue for year ended July 31 was in line with market expectations, coming in at GBP22.4 million versus GBP20.6 million the year before. Recurring revenue improved 18%. Adjusted Ebitda expected to be in line with market expectations. "Pleased" with continued progress, which it believes demonstrates "resilience" of business. Confident in future growth. Ended period with cash of GBP8.4 million and remains debt free.
"Our growth trajectory remains clear and we expect to initiate the second phase of our plan, comprising the establishment of European and APAC operations, during the first half of financial 2021," Chief Executive Mark Furness said.
Current stock price: 152.25 pence
Year-to-date change: down 26%
By Paul McGowan; [email protected]
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