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1Spatial PLC - Cambridge, England-based IT service management company - Achieves a 11% rise in revenue to £14.0 million for the six months that ended July 31, from £12.6 million the year before. Swings to a pretax profit of £267,000 from a loss of £261,000. Recurring revenue jumps by 18% to £6.6 million from £5.6 million the year before. The company notes ‘significant contract wins’ with High Speed Two Ltd and an unnamed European Aerospace firm.
Chief Executive Officer Claire Milverton says: ‘This has been another period of solid growth driven by a combination of new customer wins, expansion of our partner network and a positive market landscape.’
Looking ahead, 1Spatial says it is confident in delivering financial 2023 results in line with board expectations, adding that trading in the second half of the year has started positively with a number of new contracts secured.
Current stock price: 40.35 pence, down 5.1% on Wednesday
12-month change: down 8.3%
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