Ideagen posts ninth year of growth

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Ideagen posts ninth year of growth
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Regulatory software firm Ideagen (LON:IDEA) posted its ninth consecutive year of positive results, with adjusted EBITDA and pre-tax profits both 40% ahead to £11 million and £9.7 million, respectively, on revenue up 33% at £36.1 million.

During the year, the firm clinched new deals with Lockheed Martin, Aston Martin, Citibank, Verizon and Bayer Pharmaceuticals and extended its existing deals with SABIC, Danone, Standard Life, HNZ Global and NHS Greater Glasgow and Clyde.

“The group’s focus this year was on the continuation of our underlying organic growth and strategic transition to a recurring revenue model whilst integrating the four acquisitions made in the previous year,” commented CEO David Hornsby.

Ideagen shares rallied 5.98p to 129.48p (as at 11:26 BST).

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