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Netcall PLC- Trading Update and Notice of Results 2021

This content has been sourced from: https://www.investegate.co.uk/netcall-plc--net-/rn...

NETCALL PLC

("Netcall", the "Company" or the "Group")

 

Trading Update and Notice of Results

Strong growth in profitability driven by uptake of cloud services

 

Netcall plc (AIM: NET), a leading provider of intelligent automation and customer engagement software,  today announces its trading update for the year ended 30 June 2021.

 

The Board anticipates full year results to be in line with market expectations, which were updated at the interim results, with revenue growth of approximately 8% to £27.2m (FY20: £25.1m) and adjusted EBITDA growth of approximately 20% to £5.3m (FY20: £4.4m).

 

Cloud services annual contract value ('ACV')(1) increased 25% to £9.4m (FY20: £7.5m), and now represents more than half of total ACV which increased 10% to £18.5m (FY20: £16.8m).

 

The Group's cash position at 30 June 2021 was £14.5m (31 December 2020: £12.9m). The normalised cash position increased to £13.1m (31 December 2020: £10.7m), excluding deferred VAT, which exceeds borrowings of £6.9m (31 December 2020: £6.8m).

 

The Group intends to announce audited results for the year ended 30 June 2021 on 6 October 2021.

 

Henrik Bang, CEO of Netcall, commented :  

"Netcall delivered another strong performance with increased uptake of our Liberty platform and I am pleased to report good growth in both revenue and profitability. 

"Sales momentum was particularly robust for our cloud solutions which experienced good demand across our key markets. As a result, Cloud recurring revenue exited the period as the Group's biggest revenue stream growing 26% during the year.

"We enter the new year with a strong pipeline and a substantial market opportunity, supported by an extensive customer base and expanding product offering. This, combined with a healthy balance sheet and high levels of recurring revenue, provide the Board with confidence in the Group's continued success."