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Microlise hails “good trading” in 2023 as revenue rises
Microlise Group, a Nottingham-based provider of transport management software to fleet operators, experienced “good trading” in 2023 with results expected to be ahead of market expectations.
According to an unaudited trading update for the year ending 31 December 2023, revenue is anticipated to increase by 13% to £71.7m, up from £63.2m in 2022, with adjusted EBITDA growth of 14%, slightly ahead of market expectations.
The Group added 450 new customers during the year with key customer wins including McCulla, BCA/ECM, LF&E and two significant customer wins in Australia. Microlise also extended its relationships with numerous existing customers including Tesco, Culina and Bidfood. Microlise announced two acquisitions in 2023 for a total maximum consideration of £10.6m. This included the acquisition of Vita Software, which completed in March 2023, and Enterprise Software Systems (ESS), which completed in January 2024. A third acquisition of K-Safe completed in December 2023, with the announcement in January 2024. Microlise expects to deliver strong revenue growth in FY24, driven by further organic growth and recent M&A.Nadeem Raza, CEO, Microlise, said: “Trading momentum improved in the second half supported by an increase in delivery to direct customers towards the end of the period and strong uptake from OEM customers. This continues to drive double digit growth in ARR, an increasing base of recurring revenues and good cashflows.
“The three acquisitions made during the period have resulted in an improved and expanded offering which is already having a positive effect on trading momentum and pipeline. This, together with the resolution of the microchip supply crisis, gives us confidence in the Group’s continued success.”
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Planning permission granted for new mixed-use scheme in Glen Parva
IMA Architects has successfully secured planning permission for a new mixed-use development in Glen Parva, Leicester.
Working in partnership with its client Anglia Healthcare the plans will see the redevelopment of the current Anglia Healthcare and Mobility shop on Little Glenn Road to create a mixed-use scheme with retail on the ground floor and residential across two floors above.
IMA’s plans feature a more modern aesthetic that makes best use of the plot, maximising on space available. It will include much needed, high quality residential units comprising seven duplex apartments.
The ground floor retail space will become Anglia Healthcare’s new mobility showroom. It will provide a much-improved retail space for the company with associated office space, amenities and parking.
Anthony Day, Managing Director of IMA Architects, says: “Securing planning permission for this site had been a complicated process. When we were brought in, the process had already been going on since 2021 so I am pleased that our designs for this area of Little Glen Road have been approved and that work will soon begin on site.”