John Allwood

Chairman’s Statement

It is my pleasure to introduce our preliminary results, following another strong year of performance.

Since our IPO in 2014 the Group has performed consistently well. During this period we have delivered a 3 year revenue CAGR of 21%, 3 year gross profit CAGR of 16% and a 3 year adjusted EBITDA CAGR of 17%.

During the same period we have generated more than £30m of cash from operations, converting over 100% of adjusted EBITDA to cash.


Key financial highlights of the Group

  • Revenue up 24% to £76.1m (2016: £61.6m) of which 15% is organic growth
  • Gross profit up 19% to £43.4m (2016: £36.5m) of which 14% is organic growth
  • Operating profit up 19% to £4.9m (2016: £4.1m)
  • Adjusted EBITDA up 7% to £11.5m (2016: £10.7m)
  • Adjusted profit after tax up 10% to £7.5m (2016: £6.8m)
  • Profit after tax on a statutory basis of £4.1m (2016: £2.2m)
  • Maintained momentum since IPO with 3 year revenue CAGR of 21%, 3 year gross profit CAGR of 16% and 3 year adjusted EBITDA CAGR of 17%
  • Good contribution from both the Europe and Americas and the India and SEA regions with gross profit growth of 15% and 31% respectively
  • Cash generated from operations of £11.9m (2016: £10.6m) with strong cash conversion of 104% (2016: 99%)
  • Cash and cash equivalents at 31 March 2017 of £14.7m (2016: £15.0m) after completion of the Infracast acquisition which utilised net cash of £5.5m


Revenue up 24%


Gross profit up 19%


Adjusted EBITDA up 7%


Annual Report FY2017

Download our Annual Report & Financial Statements 31st March 2017


Revenue (£m)

Gross profit (£m)


Cash generated from operations (£m)

Jay Patel

Chief Executive's Statement

I am pleased to report that we have recorded another year of financial, operational and strategic progress across all business units of the Group. We have grown our recurring revenue base and extended our record of profitable cash generative growth. We have continued to invest in technology development, new commercial partnerships as well as in our marketing content and systems.


Operational and strategic highlights

  • Organic growth from all regions and business units
  • Major client wins in all regions
  • Renewal of all major contracts
  • Good progress with Textlocal and Archer acquisitions
  • Infracast acquisition
  • Launched IMIconnect and IMIchat into UK’s leading cloud contact centre provider

Summary and outlook

  • Favourable market dynamics with shift towards digital
  • Market leading position and long-standing client relationships provides solid foundation for organic growth
  • Acceleration of growth through partnerships
  • Continued investment in product and marketing
  • FY18 trading in line with expectations

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