London-listed Netcall has reported a notable increase in revenue, thanks to growing demand for cloud services.
- The company’s revenue reached £39.1m for the year, marking a 9% rise from 2023.
- Cloud services, a major contributor, saw a 19% increase, culminating at £19.8m.
- Netcall’s strategic acquisitions in the AI sector bolstered its technological capabilities.
- The company announced a proposed dividend increase, reflecting its robust financial performance.
In its recent financial disclosure, Netcall, a publicly traded digital services company, highlighted significant growth driven by its cloud service offerings. The firm reported an annual revenue of £39.1 million, which represents a 9% growth compared to the previous year. A key factor in this revenue boost was the 19% increase in cloud service sales, which amounted to £19.8 million for the year.
The surge in cloud services demand is attributed to businesses increasingly seeking automation solutions to manage their data and processes efficiently. According to Netcall’s CEO, James Ormondroyd, there is a growing trend among organisations to invest in cloud infrastructure to enhance customer service capabilities and achieve cost savings. He noted, “Organisations are investing into cloud infrastructure to provide that customer service capability so that they can unlock a lot of cost-saving.”
Netcall’s strategic initiatives this year included several acquisitions aimed at strengthening its position in the AI sector. The company purchased Belgian generative AI company Parble for €10 million and acquired local authority automation specialist Govtech. These acquisitions are seen as pivotal in expanding Netcall’s technological reach and enhancing its Liberty platform.
The company reported a pre-tax profit of £6.3 million, marking a 58% increase from the previous year, signalling strong financial health. This robust performance has led the company to propose an increase in dividend payments from 83p to 89p per share, with payments scheduled for February 2025, pending approval.
Reflecting market confidence, Netcall’s shares experienced a 5% rise, opening at 89.61p. The company’s Liberty platform remains a cornerstone of its operations, enabling automation of business tasks such as customer interactions and workflows. It incorporates advanced AI models, including Meta’s Llama, and is adaptable with various third-party GPTs, catering to clients in highly regulated sectors such as government and healthcare.
Netcall’s strategic focus on cloud services and smart acquisitions has reinforced its market position, promising continued growth.
