18th Apr 2023 13:39
(Alliance News) - Silver Bullet Data Services Group PLC on Tuesday celebrated strong growth across key markets and its highest ever quarterly revenue.
Silver Bullet is a provider of digital transformation services and products, headquartered in London.
Silver Bullet reported strong group trading in the first quarter ending March 31. It booked revenue of GBP2 million, more than doubling year-on-year.
According to the company, more than 30% of its revenue for the last quarter was generated in the US market.
The group also recorded GBP5.2 million of new bookings and contract renewals with blue chip clients, across the last quarter of 2022 and the first three months of 2023.
Furthermore, Silver Bullet has experienced strong growth across its UK, US and Australian markets. Its advertising insights platform 4D is continuing to access new markets, including boosts in revenue in the US.
"New clients include a market leading insurance company, a global electronics manufacturer and a US government body," Silver Bullet added.
Silver Bullet is continuing to work with various global clients such as Heineken NV, Mars Inc and Sony Group Corp. The group signed GBP1.8 million of new bookings and contract renewals in the latest financial quarter.
Chief Executive Ian James said: "We are delighted by the strong performance of the business in Q1, which follows on from a strong Q4 2022. Growth in revenue in 4D is particularly pleasing, as we continue to see heightened demand for this product.
"Further booked revenues and the ongoing benefit of the cost management programme implemented last year provide the Board with increased visibility and confidence of the business strategy."
Shares in Silver Bullet were untraded in London on Tuesday afternoon, last quoted at 48.00 pence.
By Emma Curzon, Alliance News reporter
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