Microlise Group, a provider of transport management software to fleet operators, has “delivered a solid performance in the first half of 2024,” as stated by its CEO.
According to unaudited results for the six months ended 30 June 2024, the business saw an increase in total revenue to £39.1m, up from £33.9m in the same period of 2023, driven by strong recurring revenue growth and contributions from the acquisitions of Enterprise Software Systems (ESS) and Vita Software.
New customer acquisition, meanwhile, was “particularly strong” with 202 new direct customers added during the period.
Several major, multi-year, contract wins included WooliesX, GSF Car Parts, Foodstuffs North Island, STAF, Romac & One Stop, demonstrating execution of international expansion and company cross-sell and up-sell strategies.
Multi-year renewals signed in the period included Goldstar, DPD and M&S. Further, Microlise recently signed a five-year contract renewal with JCB covering recurring SaaS software licences and hardware sales.
Nadeem Raza, CEO of Nottingham-based Microlise, said: “Microlise delivered a solid performance in the first half of 2024. Market conditions have greatly improved following the resolution of component supply issues, and localised delays in new vehicle rollouts are expected to resolve by year-end. Ongoing market consolidation is also expected to benefit Microlise as our solutions are tailored toward larger companies which now dominate the sector.
“The positive reception to our new products, coupled with the continued integration of our recent acquisitions and the increasing interoperability of our solutions, has enhanced the appeal of our offering. As a result, we are seeing improvements in our sales pipeline both in the UK and in target geographies where our brand is becoming increasingly recognised.
“With the appointment of a new Chief Revenue Officer, we hope to be able to accelerate the growth of our pipeline while improving its conversion into contracted business. The Company looks to the future with confidence and expects to meet market forecasts for the full year.“
