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Netcall boosted by cloud services business

8.35am: Netcall says earnings should beat forecasts

Netcall PLC (LON.NET) shares are in demand after the customer engagement software firm issued an upbeat trading statement.

Half year revenues rose 9% to £13.4m while pretax profits climbed from £0.14m to £0.96m, boosted by strong growth in its cloud services business. Despite the effects of the pandemic, it now expects full year earnings to be higher than its previous forecasts.

Chief executive Henrik Bang said: “Netcall enjoyed a strong first half year performance delivering solid revenue and profit growth despite the ongoing impact of Covid-19 and traded comfortably in line with management expectations. We continued to experience robust demand from our main market segments of financial services, healthcare and government driven by cloud subscription contracts for both Intelligent Automation and Customer Engagement solutions.

“The acceleration of organisations’ digital transformation initiatives represents a significant and rapidly growing market opportunity for Netcall. Therefore, l ooking further ahead, the Board remains confident that the strength of the Group’s product offering, combined with its solid balance sheet and high levels of recurring revenue, position Netcall well for continued success.”

The news has lifted its shares 5.26% or 3.5p to 70p.

Argo Blockchain PLC(LON.ARB) has jumped 14.04% or 29.9p to 242.9p after the UK-based cryptocurrency miner said its shares would start trading today on the OTCQX market in the US.

Peter Wall, Argo chief executive, said: ” The OTCQX is the highest tier of the OTC market and we are delighted to have qualified to begin trading..This approval will give increased access to US institutional and retail investors looking to invest in the Company and provide them with the opportunity to share in Argo’s growth as the cryptocurrency and blockchain sectors continue to gather momentum.”

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