12th Dec 2018 13:51
LONDON (Alliance News) - Netcall PLC on Wednesday said it saw an increase in bookings in the first half of its current financial year as a result of growing demand for its 'Low-code' platform; however the timing of sales means revenue will be weighted to the second half of its financial year.
The stock was trading 6.3% lower on Wednesday at 33.25 pence a share.
Ahead of its annual general meeting, the customer engagement software provider said it has experienced a period of strong trading since the start of its financial year in July, with bookings significantly ahead of the same period last year.
Low-code is a cloud-based digital platform used by businesses to develop digital services and applications with five to ten times less resource, according Netcall.
The company said it secured multi-year Low-code contracts with both new and existing customers, including the first sales to NHS and Housing Association organisations in the UK.
"The transition toward a cloud-based recurring revenue model has continued to accelerate," explained Chairman Michael Jackson.
"As a result of this, and the timing of product sales, the board expects recognised revenues for the year to be more weighted toward the second half than has historically been the case," Jackson added.
Netcall's current financial year ends June 30, 2019.
Netcall said it has accelerated the investment into its Low-code offering following continued customer interest, a growing pipeline and what it sees as a significant market opportunity.
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