Blue Prism sparkles after posting results

AIM-listed software developer Blue Prism (LON:PRSM) saw its shares shoot upwards by 22.28% to 1,504p (as of 14:25 GMT) as revenues for the year ended 31st October grew by 82%. Sales accelerated through the year, but the loss before tax increased due to increased investment in international growth.

Executive Chairman Jason Kingdon commented: “We have made excellent progress in operations and financial performance during 2019, with revenue and MRR exceeding the levels guided to in our trading update in November. Our enterprise customer base has grown significantly and our track record of upselling remains very encouraging. This upselling capability generated record quarters in each of our key geographies in the second half of the year, with increases in both volume and sizes of upsells. The increasing momentum we have seen as the year progressed reflects the investments we made during 2018 and we expect this to continue, as our 2019 investment programme begins to show returns. Following this investment the business is well positioned to take advantage of the significant opportunity its enterprise focused RPA represents. Blue Prism’s differentiated role as the partner for enterprise grade RPA is increasingly demonstrated by our high quality customer base and this underpins our confidence in the future“.