London-listed Netcall has reported a significant increase in its annual revenue, driven by heightened demand for cloud services.
- The company’s revenue increased to £39.1 million, marking a 9% rise compared to the previous year.
- Netcall’s cloud services sector experienced a notable 19% growth, contributing £19.8 million to the total revenue.
- CEO James Ormondroyd highlighted the growing need for cloud solutions due to increased automation demands.
- Netcall’s financial gains have led to a proposed dividend increase, reflecting its robust market performance.
London-based Netcall, a prominent player in the digital services sector, has disclosed a remarkable 9% increase in annual revenue, reaching £39.1 million for the year ending June 2024. This financial uplift is largely attributed to a robust surge in demand for the company’s cloud service offerings.
The cloud services division emerged as a key performer, realizing a substantial 19% growth, amounting to £19.8 million. This development underscores the escalating need for digital solutions that streamline business operations in an ever-evolving technological landscape.
CEO James Ormondroyd articulated that the recent upswing in cloud demand is driven by enterprises keen on leveraging automation to manage data and processes more efficiently. He stated, “Organisations are investing into cloud infrastructure to provide that customer service capability so that they can unlock a lot of cost saving.”
However, Ormondroyd also pointed out the challenges posed by a general lack of digital skills, which hampers the implementation of AI technologies among eager businesses. This gap highlights the ongoing need for digital skills enhancement to fully capitalize on technological advancements.
The company’s financial success is further mirrored in its pre-tax profit, which rose by an impressive 58% to £6.3 million. In response to this fortuitous outcome, Netcall has proposed increasing its dividend payment from 83p to 89p per share, pending approval. Share prices echoed this positive trend, climbing by 5% to reach 89.61p upon the market’s opening.
Netcall’s Liberty platform, which integrates open-source generative AI like Meta’s Llama, continues to be instrumental in its operations across various regulated sectors including governmental and healthcare organisations. This adaptability to client needs further cements Netcall’s position as a leader in enterprise software solutions.
Strategic acquisitions have also played a pivotal role in Netcall’s expansion and integration of advanced technologies. Recent acquisitions include Parble, a generative AI specialist based in Belgium for €10 million, and Govtech, a local authority automation firm. These moves signify Netcall’s commitment to enhancing its technological capabilities and market reach.
Netcall’s strategic enhancements and focus on cloud services have significantly bolstered its financial performance, marking a successful year.
