Ixico FY revenues grow by more than a quarter

19th Oct 2020 09:38

(Sharecast News) - AI data analytics company Ixico said on Monday that full-year revenues were up year-on-year as its data analytics service strategy continued to drive growth.
Ixico said full-year revenues had increased by 26% to £9.5m, resulting in the group's fourth successive year of more than 25% revenue growth.

The AIM-listed company's year-end order book increased by 36% to £21.7m, providing it with "strong revenue visibility" for 2021 and beyond.

Earnings before interest, tax, depreciation, and amortisation were said to have "more than doubled" to no less than £1.1m, while year-end cash at 30 September 2020 came to £7.9m, an increase of 9% year-on-year

Chief executive Giulio Cerroni said: "We have responded robustly to the challenges of the Covid-19 pandemic, continuing our track record of strong growth.

"Despite the ongoing uncertainties of the Covid-19 pandemic, which will continue to impact us across 2021, we will continue to invest for medium to long term profitable growth."

As of 0935 BST, Ixico shares were up 5.73% at 94.10p.