London-listed Netcall sees significant revenue growth fueled by increased cloud service demand.
- Netcall reports a 9% revenue increase to £39.1m for the fiscal year ending June 2024.
- Cloud services lead with a 19% revenue surge, amounting to £19.8m.
- Netcall CEO highlights the critical role of cloud infrastructure in data management amidst rising demand.
- Company shares experience a 5% uplift following these results, with strategic acquisitions boosting capabilities.
Netcall, a prominent enterprise software firm in London, has reported substantial revenue growth attributed primarily to the heightened demand for cloud services. The company’s revenue reached £39.1m for the fiscal year ending in June 2024, marking a 9% increase from the previous year. The cloud services division was the standout performer, experiencing a remarkable 19% growth and contributing £19.8m to the company’s total revenue.
The catalyst for this surge in cloud demand largely stems from businesses seeking automation solutions to manage their operations efficiently. According to Netcall’s CEO, James Ormondroyd, businesses are increasingly investing in cloud infrastructure to enhance customer service capabilities and achieve cost savings. He noted the challenges posed by a lack of digital skills, which hinder the adoption of AI technology across various sectors.
Financial performance has also seen a noteworthy improvement for Netcall. The company reported a pre-tax profit of £6.3m, a 58% increase from the prior year. This financial upswing has prompted Netcall to propose an increased dividend payment from 83p to 89p per share, pending approval for a payout in February 2025.
Netcall’s market performance has reflected this positive trend, with its shares rising by 5% to 89.61p on the day that the results were announced. The company’s growth strategy has been bolstered by strategic acquisitions, including the Belgian generative AI company Parble for €10m and Govtech, a specialist in local authority automation, enhancing its technological capabilities.
The Liberty platform by Netcall plays a crucial role in its service offering. Launched prior to the advent of ChatGPT, it now integrates large language models and open-source generative AI to automate business tasks. It is particularly utilized in regulated sectors, such as government and healthcare, providing adaptable solutions tailored to complex requirements.
Netcall’s strategic focus on cloud and AI technologies continues to drive exceptional growth.
