Highlights included:
- Revenues up 9% year on year
- Record levels of recurring revenues of £6.61m, up 11% and now covering 100% of all administrative costs
- Profit after tax for the year up 6% to £1.21m
While the results themselves were in line with expectations, the Group also provided news on an exceptional start to trading in the first quarter:
- New Client Contract wins for FileFinder up more than 70% compared to the same period in 2015
- Voyager division orders showing c50% increase on the same period in 2015
Group CEO Jason Starr commented: “We are delighted with today’s announcement. Our business is one of very few UK software firms that is both profitable and cash generative.
“This allows us to invest in product development - and the benefit of this is being seen with our superb Q1 order book. In a market that is largely flat, to see new business sales increasing so rapidly across the business demonstrates that we are taking market share.
“This, along with strong client retention, ensures that we are in a great position at this stage of the year.”
