Microlise Group, a provider of transport management software to fleet operators, has reported a “strong performance” for the six months ended 30 June 2024.
The results for first half of the year saw revenue grow by 15.4% to £39.1m, driven by strong growth in recurring revenues, which have grown 21.5% (11% organic) to £26.6m. Annual recurring revenue, meanwhile, increased 20.6% (11% organic) to £54m.
During the period, the Nottingham-based Group added 202 new customers, securing new business across all its target geographies and with significant wins with LGV fleet operators.
The period also saw Microlise announce the acquisition of K-Safe, a developer of road safety products.
Nadeem Raza, CEO, Microlise said: “I am delighted to report strong performance in the first half of the year, with significant recurring revenue growth following a strong period of delivery in the second half of last year and with new products from our successful acquisitions leading to an increase in cross selling and upselling.
“In addition, we secured a significant number of new clients, including strategically important contract wins in our international markets.
“We continue to seek acquisitions that can further enhance our offering and accelerate our growth within all regions. With superior market positioning, favourable market conditions, and a strong pipeline, we are confident of meeting expectations for the full year.”
