LONDON (ShareCast) - (Sharecast News) - Asset finance software group Alfa Financial impressed the market with a strong uptick in top-line growth in the fourth quarter, helping profits to beat expectations.
Revenues in the three months to 31 December were up 21% year-on-year at £29m, following 14% growth in the third quarter and a 1% decline in the first half.

Software revenues were 84% higher, services revenues grew 7%, while subscription revenues jumped 17%.

As a result, full-year revenues came in at £110m, up 8% on the previous year.

Meanwhile, with costs coming in £1m lower than Alfa expected, operating profits grew 13% in 2024 to £34m, which the company said was 5% ahead of market expectations.

"We are very pleased to see the momentum from Q3 continuing through Q4, resulting in H2 revenues up 17% on last year and with operating profit ending the year ahead of expectations," said chief executive Andrew Denton.

"As well as being a good year financially, 2024 was also a hugely successful year for sales and the development of our product. The record eight wins drove [total contract value] up 34% to £221m and we have laid the foundations for our future with the launch of Alfa Systems 6. We remain well positioned to drive growth in 2025 and well beyond."

Shares were nearly 4% higher at 213.75p by 1027 GMT.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE