Actual Experience results lift shares

Shares in AIM-listed consultancy Actual Experience (LON:ACT) climbed 42.51% to 33.49p (as of 14:40 BST) after it reported a significant narrowing in operating losses for the half year ended 31st March. Revenues were up by 1.9%, but new efficiencies led to a 29% improvement in gross profits as the company’s restructuring came closer to completion.

CEO Dave Page commented: “Our pivot to a professional services led engagement is now complete and structural changes made in this regard will be reflected in the reduced ongoing cost base. We continue to make progress in targeting further land and expand opportunities with global blue chip companies and remain convinced that we will grow our Annual Recurring Revenue as a result.

“Significant changes have taken place globally in regards to how businesses are operating. The recent enforced adoption of home working places digital transformation and related digital experience at the top of the corporate agenda. We, together with our Partners, their customers, and a growing number of industry analysts, believe that this will result in long term change to how employees work that highlights the need for our technology. Our ability to service the needs of major corporates, be it in traditional offices or in hundreds or thousands of individual homes, places us in a strong position. Discussions regarding potential new contracts are well progressed and we expect to be able to announce further details regarding this in due course“.