1st Feb 2019 08:36
LONDON (Alliance News) - Nasstar PLC on Friday said it expects its revenue for the year to the end of December to come in ahead of expectations, with adjusted earnings before interest, taxes, depreciation and amortization in line with forecasts.
In 2017, the computing services provider reported revenue of GBP24.5 million and adjusted Ebitda of GBP5.6 million.
During 2018, Nasstar said it made further investments in key strategic areas, designed to secure future long-term growth, improve efficiencies and deliver revenue more quickly.
"As a direct result of this initiative we are now better positioned than ever to deliver on projects of increasing complexity and size and very focussed on developing a sales pipeline of larger deals," the company said in the statement Friday.
In the final quarter of 2018, Nasstar secured its first deal with an undisclosed law firm. Under the deal, the company will deliver a fully managed hosted desktop solution to all 850 users at the law firm over the course of a three-year term.
Nasstar expects the deal to go live in the fourth quarter of 2019 and generate revenue of at least GBP3.1 million over its term.
The company said it will report its 2018 results on April 29. The stock was flat on Friday at 11.70 pence a share.
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