The online review service Trustpilot saw its shares leap higher on Tuesday after publishing full year results. Bookings were 21% higher, revenues rose by 18% and last year’s pre-tax loss of $1.9m morphed into a $5.2m profit. The note adds that the record growth in bookings should translate int another year of revenue growth in the high teens percent with adjusted EBITDA slightly ahead of market expectations and a further improvement in margins. The Trustpilot share price was 15% higher in early trade.
FTSE-250 listed computer software reseller Bytes also had a good start to the day following the publication of its full year trading update. Gross invoiced income hit a record of more than £2 billion, whilst operating profits grew in the mid to high teens on a percentage basis. Cash conversion remained strong and the company was sitting on a cash balance of £110m at year end. The Bytes share price was up almost 15% in the first half hour of trade.
Completing a trifecta of FTSE-250 listed tech stocks, IT services company Computacenter published its full year results this morning. A record performance in North America helped lift revenues by 2.9%, adding 1.9% to gross profits, with the gains coming against some tough comparatives. The second half of the year was the company’s most profitable in its history and cash generation remains strong, so despite the drop in adjusted operating profits investors are cheering the performance, helped by strong momentum being carried into the new year. There’s still a degree of caution over the wider macroeconomic picture but the Computacenter share price was up 11% shortly after the open.
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