Microlise Group, the Nottingham-based provider of transport management software to fleet operators, is witnessing positive progress despite the challenges created by the global microchip shortage.
According to a half year update on trading for the six months to 30 June 2022, the group has seen strong recurring revenue growth with ARR increasing by 10.5% to £40.2m.
Microlise has added 60 new customers in the period and expanded its partnerships with existing customers, including MAN Trucks in Malaysia.
The business said full-year revenue and profit are to be in line with market expectations.
The planned retirement of Bill Wynn, chief financial officer, in Spring 2023, has also been announced.
Nadeem Raza, CEO, Microlise, said: “2022 has shown the vital role Microlise plays in supporting the transport industry through a challenging period. A perfect storm of problems has hit the sector, including the pandemic, Brexit, driver shortages, and a fuel crisis. Fuel accounts for a third of all transport costs and Microlise’s technology gives customers greater visibility and control over their fleets’ fuel consumption.
“Our healthy commercial performance with new customers signing up and existing customers extending their relationships shows how critical Microlise is to our client’s fleet operations. The successful return of the Microlise Transport Conference further highlighted our position as a key industry component.
“Looking ahead, the group has a healthy pipeline of opportunities. We are focused on delivering our acquisition strategy and developing and expanding our product portfolio. In the long term, operators face growing pressure to ensure that fleets are efficient and sustainable. As a result, we are confident the business will meet expectations for the full year and deliver long-term value to our shareholders.”
