Cirata PLC (AIM:CRTA) shares jumped 21% after the company reported a strong performance in its latest trading update, driven by growth in its Data Integration business and improved cost management.
Bookings for the fourth quarter of 2024 rose to $3 million, compared with $2.7 million in the same period last year, supported by a $2 million contract for its Live Data Migrator product with a leading United States bank.
Data Integration bookings grew by 53 per cent year-on-year to $2.3 million, accounting for 77% of total bookings.
Cirata reduced its cash overheads to $5 million in the quarter, down from $5.7 million a year earlier. The company expects 2025 to mark the beginning of a growth phase underpinned by a leaner cost structure and stronger operating leverage.
In morning trading, the stock was up 4.4p at 25.75p.