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Blue Prism lifts outlook despite wider losses

By BFN News | 09:28 AM | Thursday 23 January, 2020


Blue Prism upgraded its outlook on full-year performance despite losses more than trebling as costs swelled on increased investments offsetting a jump in revenue. 'The 2019 investment programme will begin to deliver the expected long-term returns during the course of 2020 and the board now anticipates profit performance of the group to be slightly better than its previous expectations for the current financial year,' Blue Prism said. For the year ended October 31, pre-tax losses more than trebled to £80.7m from £26m last year and revenues increased by 83% to £101m Monthly recurring revenue generated at the end of October was £10.6m, an increase of 71% on last year. 'The board anticipates a reducing cash burn starting from the first half of the year and plans to be broadly cash neutral in the second half of the year as the benefits of the 2019 investments progress,' it added. At 9:28am: (LON:PRSM) Blue Prism Group Plc share price was +265p at 1495p Story provided by StockMarketWire.com

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