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Checkit PLC - Cambridge-based operations platform for the deskless workers - Says results for the year ended January 31 were ahead of market expectations, which it did not specify, despite widening its annual pretax loss to £12.0 million from £8.2 million the year prior. Adjusted loss before interest, tax, depreciation and amortisation widens to £6.4 million from £5.6 million. Revenue, meanwhile, increases to £10.3 million from £8.4 million. Annual recurring revenue increases 28% to £11.5 million from £9.0 million. Notes that new financial year has started well with continued sales momentum in line with the board’s expectations. Consequently, expects to meet market expectations for financial 2024. ‘The results are all the more impressive in the context of a turbulent economic and political backdrop in addition to growing inflationary pressures. These challenges have, so far, been navigated successfully with a focus on driving operational efficiencies and preserving cash,’ says Chief Executive Kit Kyte. Current stock price: 27.45 pence, down 2.0% on Monday afternoon in London 12-month change: down 29% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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