19th May 2025 11:42
(Alliance News) - KRM22 PLC on Monday expressed confidence in 2025 trading, underpinned by its "strong" sales pipeline, as it posted a narrowed loss in 2024.
The London-based technology and software investment company said its pretax loss narrowed to GBP1.4 million last year from GBP4.9 million in 2023.
Revenue grew by 29% to GBP6.8 million from GBP5.3 million, helping to advance the bottom line, with Chief Executive Dan Carter noting the firm's "impressive growth" in 2024.
Annualised recurring revenue improved 22% to GBP6.6 million at December 31 from GBP5.4 million a year earlier. This was driven by GBP1.7 million in new contracted ARR, said KRM22, reflecting a "significant rise" from GBP1.1 million the year previous.
Further supporting earnings was a reduction in costs, as administrative expenses fell 25% to GBP6.6 million from GBP8.8 million.
"At the start of 2024, we undertook a comprehensive group restructure, an initiative to drive greater operational efficiency and long-term sustainability. As part of this effort, we implemented a focused cost savings programme, streamlining our organisational structure and optimising resources to enhance productivity," said KRM22.
Shares in KRM22 were up 5.3% to 31.60 pence on Monday morning in London.
Looking ahead, KRM22 said it is "well positioned for continued success in 2025 and beyond", with its confidence underpinned by "a strong sales pipeline".
Non-Executive Chair Garry Jones said: "These 2024 results demonstrate continued strong growth with significant increases in ARR...We have had a strong start to 2025 and have never been in a better position, in terms of momentum and client satisfaction. Our risk management technology and services are even more essential to our clients in these volatile times, as we look to expand further in terms of geographical focus and asset class coverage."
By Christopher Ward, Alliance News reporter
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