7th Jan 2014 10:04
LONDON (Alliance News) - Shares in Synety Group PLC were trading up 26% Tuesday after it said that its recurring revenue for the year ended December 31 2013 had increased approximately six fold.
Synety reported annualised recurring revenue of GBP850,000, increased from GBP149,000 in the previous year.
The cloud-based telephony company said that sales in its CloudCall software had exceeded market expectations, with the number of CloudCall users increasing around five times to 2,678 from 564.
"We anticipate growing sales very strongly again this year," said Executive Chairman Simon Cleaver in a statement. "All the board are very excited and remain confident of our prospects for creating a scale player in this emerging market."
Shares in Synety were trading up 26% at 202.50 pence Tuesday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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