Netcall, a London-listed software group, has achieved notable revenue growth, thanks to increasing demand for cloud services.
- The company reported revenue of £39.1 million for the year ending June 2024, reflecting a 9% increase from the previous year.
- A significant portion of this growth is attributed to the cloud services segment, which experienced a 19% rise, reaching £19.8 million.
- Netcall’s pre-tax profit surged by 58% to £6.3 million, bolstered by the expanding cloud market.
- Shares in the firm increased in value by 5% following market opening on a recent Wednesday, indicating strong investor confidence.
Netcall, a prominent software group trading on the London stock exchange, has recently reported substantial revenue growth, underscoring the escalating demand for cloud-based services. For the year concluding in June 2024, Netcall disclosed revenue figures amounting to £39.1 million, marking a commendable 9% escalation from the preceding year. This upsurge is predominantly driven by the robust performance of its cloud services division.
The cloud services arm of Netcall recorded a remarkable 19% increase in revenue, reaching a total of £19.8 million. This surge is largely fueled by the growing need for automation and efficiency in managing data and processes across various industries. The company’s CEO, James Ormondroyd, emphasised that organisations are increasingly investing in cloud infrastructures to enhance customer service capabilities and achieve cost efficiencies.
Pre-tax profits reflected these positive trends, showing a significant increase to £6.3 million, up by 58% from the prior year. In alignment with this financial upturn, Netcall has proposed an increased dividend payment, rising from 83p to 89p per share, with disbursements anticipated in February 2025 pending shareholder approval. Such financial strategies are indicative of Netcall’s commitment to returning value to its shareholders.
Reflecting this optimistic outlook, shares in Netcall witnessed a boost of 5% in value at the commencement of trading recently, closing at 89.61p. This investor confidence highlights the market’s positive reception of Netcall’s strategic initiatives and financial health.
Netcall’s platform, Liberty, plays a crucial role in this success, automating myriad business tasks such as customer interactions and workflow management. The Liberty platform now integrates advanced large language models, including Meta’s Llama, and can interface with various third-party GPTs, underscoring its adaptability and technological edge.
Furthermore, Netcall has made strategic acquisitions, such as the purchase of a Belgian generative AI company, Parble, for €10 million and local authority automation specialist Govtech. These acquisitions demonstrate Netcall’s proactive approach in expanding its technological capabilities and operational footprint in heavily regulated sectors like government and healthcare.
Netcall’s strategic focus on cloud services and innovative technologies has effectively driven its recent financial and market success.
