GetBusy soars on the back of strong first-half results

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GetBusy soars on the back of strong first-half results
Master Investor Magazine

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AIM-listed software developer GetBusy (LON:GETB) watched its share price increase by 25.34% to 36.35p (as of 13:30 BST) after it reported a 19% increase in revenues for the half year ended 30th June. Losses for the period narrowed by 14% relative to the same period of last year.

CEO David Rabie commented: “I am delighted with what our team has achieved in H1. Recurring revenue has increased 20% and our adjusted loss before tax reduced by 42%. Virtual Cabinet is demonstrating good profit and cash generation through strong operating leverage. SmartVault is scaling rapidly. GetBusy has a growing base of active users and we are positioning it for monetisation.

“We have consistently acquired new users across our products and have monetised our existing customer base better by delivering more valuable product features.

“The strong start to the year and the momentum that we have built has given us confidence that revenue for 2019 will be ahead of current market expectations“.

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