Checkit saw better-than-expected performance in Q421 and closed the year ahead of our forecasts. In FY21, Checkit Connect grew 13% y-o-y on a pro-forma (PF) basis while Checkit BEMS saw business rebound in H2 after lockdown restrictions in the construction sector were relaxed. The company made good progress with its strategy to build its subscription contract base: recurring revenue grew to 39% of FY21 revenue, up from 30% for FY21 PF. We have revised our forecasts to reflect better-than-expecte ....
11 Feb 2021
Checkit - 33% growth in recurring revenue
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Checkit - 33% growth in recurring revenue
Checkit plc (CKT:LON) | 22.0 0 0.0% | Mkt Cap: 23.8m
- Published:
11 Feb 2021 -
Author:
Katherine Thompson -
Pages:
5
Checkit saw better-than-expected performance in Q421 and closed the year ahead of our forecasts. In FY21, Checkit Connect grew 13% y-o-y on a pro-forma (PF) basis while Checkit BEMS saw business rebound in H2 after lockdown restrictions in the construction sector were relaxed. The company made good progress with its strategy to build its subscription contract base: recurring revenue grew to 39% of FY21 revenue, up from 30% for FY21 PF. We have revised our forecasts to reflect better-than-expecte ....