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Maistro jumps as eProcurement specialist expects first-half 2018 revenue to exceed full-year 2017 levels

The AIM-listed firm added that the strong revenue performance contributed to “increasing management confidence that this trend will accelerate into 2019 and beyond”
eProcurement
Maistro said its 2018 gross margin performance also continued its upward trajectory

Maistro PLC (LON:MAIS) saw its shares jump higher in early trade on Tuesday after the eProcurement specialist said it expects its first-half 2018 revenue to exceed full-year 2017 levels.

In a brief business update, the AIM-listed firm added that the strong revenue performance contributed to “increasing management confidence that this trend will accelerate into 2019 and beyond.”

WATCH: Maistro positioned for growth after year of transformation

Maistro said its 2018 gross margin performance also continues its upward trajectory, with the company “pleased with the continued rate of repeat business in its core multinational enterprise customer base together with an increase in project size and commensurate revenue.”

Laurence Cook, Maistro’s CEO said "We have made significant progress in the last 12 months and it is good to see our customer base growing and challenging us to deliver across multiple geographies which is in turn further integrating Maistro into the procurement strategy of these global enterprises.”

He added: “We are looking forward with confidence as we roll out to our new customers whilst continuing to increase our share of business within existing enterprise customers.”

The PaaS (Procurement as a Service) company will announce its results for the six months ended 30 June 2018 on Thursday 27th September 2018.

In early morning trading, Maistro shares were 16.7% higher at 5.25p.

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September 27 2018

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