IMImobile delivered solid interim results, in line with expectations. Gross profit rose an organic 12% y/y to £35.2m, with growth delivered across all geographies. Positive momentum was driven by continued customer wins, as well as an increasing number of customers delivering >£500k p.a (H1’20E: 52 projected; FY’19: 43). Adjusted EBITDA rose 27% y/y to £9.8m driven by a 140bps improvement in EBITDA/gross profit margins, while cash conversion reached 127%. Alon
26 Nov 2019
Growth in all geographies
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Growth in all geographies
- Published:
26 Nov 2019 -
Author:
Caspar Erskine -
Pages:
3
IMImobile delivered solid interim results, in line with expectations. Gross profit rose an organic 12% y/y to £35.2m, with growth delivered across all geographies. Positive momentum was driven by continued customer wins, as well as an increasing number of customers delivering >£500k p.a (H1’20E: 52 projected; FY’19: 43). Adjusted EBITDA rose 27% y/y to £9.8m driven by a 140bps improvement in EBITDA/gross profit margins, while cash conversion reached 127%. Alon