Proactive Investors - Run By Investors For Investors

Maistro revenues surge over 250% in first half

Revenues rocketed 254.5% to £596,000 in the period, driven primarily by an increasing take-up of the company’s services by multinationals
Procurement
The company has expanded into both the European and Far Eastern markets

Maistro PLC (LON:MAIS) has reported a surge in revenue of over 250% in the first half of its financial year driven by an uptick in business from multinationals.

The business procurement specialist reported an adjusted underlying (EBITDA) loss of £923,000 for the period, narrowed from a £979,000 loss a year ago.

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

Revenues, however, rocketed 254.5% to £596,000 in the period, driven primarily by an increasing take up of the company’s services by multinationals.

Maistro’s chief executive Laurence Cook also highlighted that revenues in the first half of the year had already exceeded those of the entire 2017 financial year, adding that the company had expanded its reach into both Europe and East Asia with a focus on large enterprise customers.

In its outlook, Cook also said the second half of the year was looking “encouraging”, with an increasing run-rate in the pace of growth going into 2019.

The company also said that following its first-half performance it was accelerating investment in its software platform and expanding its business development team to enable an enterprise customer strategy that would deliver an increased volume in the number of projects.

View full MAIS profile View Profile

Maistro Timeline

Video
September 27 2018

Related Articles

lock
October 18 2018
Managed services revenue jumped 52% in the first half of 2018 with the order book standing at £2.4mln.
man with mobile biometric tracking device
March 20 2019
Ipsidy has seen the market for its proprietary biometric technology explode after the hacks of Equifax Inc, Target Corp and Home Depot
Background check
May 13 2019
The company provides background check and medical screening solutions for employers to give them reliable information when hiring new staff.

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use