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August 31, 2017

Alfa posts £45.1m revenues in first results

By Brian Cantwell

Leasing software provider Alfa has posted £45.1m in revenues in its first results since it listed on the London Stock Exchange in June this year.

In its H1 results, Alfa said it returned pre-tax profits of £14m, with earnings per share of 3.6p.

The business said it had increased its headcount to 300 by June 2017, to increase fee earning capacity, and had won two new clients in the first half of the financial year.

It indicated that Brexit had been a factor in growth considerations.

“Political uncertainty still hinders UK activity at the enterprise level but European and US markets are strong and we have benefited from the strengthening of the US Dollar in comparison to H1 2016; US revenues continue to contribute 45% of our business,” it said in the results.

The software provider said it would be designing a product around its Cloud IT offering and that this would mean a ‘Cloud First’ sales approach, meaning it could streamline its delivery and open up additional revenue streams.

A report in the Financial Times listed Alfa’s clients as Bank of America, Barclays, Mercedes Benz and Nordea; and that last year Alfa had won a contract with Uber, the ride-hailing app.

Andrew Denton, chief executive officer of Alfa, said: “We are proud and delighted to deliver this first interim report following our IPO on the London Stock Exchange in June this year. Our IPO was always about creating a platform to grow our business and in the relatively short period since then we’ve continued to deliver on our strategic plan, maintaining focus on expanding our customer base and on the ongoing development of Alfa Systems.”

Denton added on LinkedIn that after the quarterly changes to the FTSE UK Index Series, Alfa will be included in the FTSE 250 from Monday 18 September.

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