Microlise Group, a provider of transport management software to fleet operators, has hailed “strong” results for 2024, delivering a record performance.
Revenue at the Nottingham-based firm grew to £79.5m, according to audited results, increasing from £71.7m in 2023. Meanwhile, adjusted profits increased 16% to £6.5m.
A cyber incident cost the business £4.4m, though this is expected to be covered in full by cyber security insurance.
The year further saw over 375 new customers, including companies such as GSF, Woolies, STAF and FSSI, and 52 contracts were renewed, including JCB, Bidfood, Sainsbury’s and Cemex.
Microlise also experienced strong international growth with new direct customers secured in Australia, New Zealand and France.
Nadeem Raza, CEO of Microlise, said: “Microlise delivered record performance in FY24, exceeding market expectations in cash levels and adjusted EBITDA which is reflective of our comprehensive growth strategy and continually improving customer offerings. We have continued to secure major customer contracts and have renewed our longstanding partnerships with longstanding customers such as JCB.
“Toward the end of the year, the hard work of the Microlise team and our previous commitment to cyber security ensured that we successfully navigated a cyber security incident, loosing no customers and we have continued to build and convert our new business pipeline.
“We remain focused on improving our customer offering and expanding our international business in key geographies such as Australia, New Zealand and France. Our strong pipeline, paired with our growing international footprint gives us much to look forward to in 2025 and I would like to thank everyone at Microlise for their hard work in the period.”
