Cloud communications company IMImobile sees revenue rocket

 
Francesca Washtell
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IMImobile works with businesses to engage their mobile and digital clients (Source: Getty)

Cloud communications and software provider IMImobile has this morning announced its revenue shot up by 24 per cent last year.

The figures

Revenue rose to £76.1m, of which 15 per cent was organic growth, in the year to the 31 March. Operating profit rose 19 per cent to £4.9m, up from £4.1m in 2016.

This was aided by growth from the Europe and Americas and the India and south east Asia regions, with profit growth of 15 per cent and 31 per cent respectively.

Read more: Here's why banks are struggling to keep up with the cloud

Cash generated from operations rose to £11.9m from £10.6m in 2016.

Although not currently a dividend stock, IMImobile added it has started the process to effect a capital reorganisation to enable share buybacks or dividends in future.

Why it's interesting

IMImobile, which works with companies such as Telefonica, EE, Orange and IBM, said it had “maintained momentum” since it listed in London in mid-2014. It has deployments in around 60 countries and works with businesses to engage their mobile and digital clients.

Read more: IMImobile confident of bright future in strong trading year

The company said it has seen organic growth "across all regions and business units" and has snagged new major blue-chip client wins in all regions, including the multi-territory mobile operator group Telenor. It also said it has made "good progress" with its Textlocal and Archer acquisitions.

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