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Ideagen revenues up 24%

By BFN News | 07:58 AM | Tuesday 18 July, 2017

Ideagen's revenues rose by 24% to £27.1 million in the year to the end of April with underlying organic growth of 10% (FY2016: 10%) and run rate recurring revenues of £20.2 million at year end (FY2016: £11.9 million), covering 93% of operating costs (FY2016: 81%). SaaS revenue increased 133% to £4.8 million and ajusted diluted earnings per share rose by 19% to 3.16 pence (FY2016: 2.66 pence). Adjusted EBITDA increased 26% to £7.9 million and adjusted pre-tax profits were up 22% at £6.9 million. Chief executive David Hornsby said: "The group's focus this year was on the delivery of our organic growth objectives whilst continuing the execution of our buy and build strategy which resulted in four valuable acquisitions. "We are delighted to report another year of strong growth, which has been underpinned by excellent cash generation and has augmented our position as a leader in the Governance, Risk and Compliance (GRC) market. "Trading since the year end has remained robust and we continue to see strong demand for our products from new potential customers. "Moreover our growing recurring revenues and the repeat business derived from more than 3,000 customers, an increase of over 800 from last year, provides the Board with confidence in the prospects for the Group for the current year and beyond." Story provided by

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