9th Sep 2014 09:29
LONDON (Alliance News) - Kalibrate Technologies PLC Tuesday expressed confidence in achieving its targets for the coming year on strong recurring revenues and a USD22 million order book, even as its profit in its last financial year was hit by the costs of its AIM listing.
The provider of software and services to the petroleum retail industry posted a pretax profit of USD195,000 for the year to June 30, down from USD1.4 million in the previous year, despite seeing revenue rise to USD28.8 million from USD24.2 million. Its operating expenses rise, and and it booked a USD2.7 million exceptional costs relating to its listing on AIM last November.
Kalibrate added to its headcount during the year, taking its total to 151 employees from 137.
Kalibrate said that revenue growth was fuelled by a strong performance in its pricing and planning businesses. The company entered new territories including Malaysia, Mozambique, New Zealand, Brazil and the Philippines.
The company increased its recurring revenue base to USD19.6 million, from USD15.6 million at the start of the year.
Kalibrate said that it is pleased with the progress it has made during its maiden year as a quoted company, and said it has continued to meet its target after the year end.
"As we enter a new financial year, we remain committed to executing on our stated strategy and based on this momentum the board expects to see continued progress and looks forward to the future with confidence," the company said in a statement.
Kalibrate Technologies was trading up 0.8% at 127.00 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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