Member Article

Manchester software company Kalibrate Technologies plc turns finances around

Manchester’s provider of software based products to the fuel retail industry Kalibrate Technologies plc reports pre-tax profit of $1.2m.

The previous year the group reported a loss of $0.49m.

The group also saw a positive result in revenue which increased by 11% to $15.6m.

The company attribute the positive results to strong performances in its core markets of North America, Europe and South Africa with significant new clients acquired during the period.

The group also report a 100% client retention rate.

CEO of Kalibrate, Bob Stein, said: “These results demonstrate continued delivery against our stated strategy of growing in our core markets and expanding into new geographies, with more clients now using both our Pricing and Planning products.

“Our managed services offering continues to gain momentum and we are seeing good demand for our SaaS platform which further increases our revenue visibility.

“We have continued to invest in our product set and remain well placed to support existing and new clients in markets that are or will soon be deregulating fuel pricing.

“With over $20 million in recurring revenues at the start of the year and a strong deal pipeline as we enter the second half, we remain confident that the Group is on track to meet expectations for the year as a whole.”

This was posted in Bdaily's Members' News section by Sophia Taha .