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Revenue rises at Microlise Group following year of international growth
Revenue is on the rise at Microlise Group, the Nottingham-headquartered provider of transport management software to fleet operators, following a year of international growth.
In a trading update for the year ending 31 December 2024, the business revealed revenue is expected to increase by 12.9% to £81m, up from £71.7m in 2023, with adjusted EBITDA ahead of market expectations at £11.3m (up from £9.4m in 2023).
2024 marked a year of international expansion for the company, with new direct customers secured in Australia, New Zealand and France.
The business added 375 new customers in the year, including WooliesX in Australia, GSF in the UK, Foodstuffs South Island in New Zealand and STAF in France. Microlise also renewed key relationships, including a five-year extension with JCB.
2024 additionally saw the acquisition of K-Safe and the completion of the acquisition of Enterprise Software Systems (ESS) in January.
Nadeem Raza, CEO, Microlise, said: “The business demonstrated growth across all geographies, and the addition of newly acquired products enabled us to provide more solutions to existing customers. We have signed several new TMS contracts, following the acquisition of ESS at the start of the year, which is particularly pleasing.
“The business responded well to the cyber incident in October, resulting in minimal impact to the forecast FY24. I would like to thank all our staff for their hard work and dedication in restoring services for our customers, and our customers for their patience and understanding during this period.
“The outturn for 2024 shows a strong business with a healthy pipeline and puts us in a great position to take advantage of opportunities in 2025.”
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Over £180,000 awarded to Melton businesses
Over £180,000 has been awarded to businesses in Melton, allowing them to flourish.
These grants formed part of the UK Shared Prosperity Fund (UKSPF) and Rural England Prosperity Fund (REPF) received as part of the UK Government initiative to enhance opportunities within communities.
Leader of the Council Cllr Pip Allnatt said: “The Council remains committed to supporting local endeavours and is eager to see the positive impacts these grants will bring.
“With a strong focus on collaboration and sustainability, the residents within the borough continue to pave the way for a vibrant and thriving community and these grants highlight a small number of these initiatives within the area.”
In this round, 29 business grant applications were successful, amounting to a total of £180,114. There were 55 applications submitted, and if all had been approved, the funding required would have reached over £324,000.
The business grants support pre-start, start-up and established businesses with growth aspirations and were awarded borough wide. Projects are supporting the retail, hospitality, manufacturing, and creative industries, amongst others.
A multitude of successful businesses have received funding from the council including £9,500 for a new construction company which is creating an online learning platform, providing training and support for small businesses in the construction industry.
In addition, a new town centre pub will receive £7,500 to buy kitchen equipment, creating several job opportunities and will potentially attract more visitors to the area. The scheme has also awarded £9,547 to enable a well-established company to build the first Tier 3 Data Centre in Melton Mowbray. This facility will enhance the local business environment and support technological growth in the community.
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Dr. Martens sees mixed third quarter performance
Iconic Northamptonshire shoe brand Dr. Martens has seen a mixed performance around the world in its third quarter whilst making “good progress” in “turning around” its USA performance.
According to a trading statement for the Christmas period, covering the 13 weeks ended 29 December 2024, third quarter group revenue was up 3% (at constant currency) to £267m, with direct to consumer (DTC) revenue up 1% CC.
By channel, the DTC performance was the result of ecommerce revenue growing by 2% CC and retail revenue declining by 1% CC. Wholesale revenue, meanwhile, grew by 9% CC, against a weak comparative. The wholesale performance by region was in line with expectations, with EMEA and APAC up year-on-year and Americas wholesale down single-digit CC.One of Dr. Martens’ key objectives this year is to return Americas DTC revenue to positive growth in the second half. The business is on track, with Americas DTC revenue up 4% CC.
EMEA DTC revenue, however, declined by 5% CC year-on-year, which the firm said was “impacted by the deep promotional nature of several markets, especially in December, when we maintained our discipline and only participated in promotional activity in line with our discounting strategy.“
APAC DTC was up 17% CC driven by ecommerce. The company’s largest market in the region, Japan, continued to deliver good growth.
Year to date group revenue, conversely, declined 9% to £599m CC.Ije Nwokorie, Chief Executive Officer, said: “I am excited to be CEO of Dr. Martens. The global relevance of our iconic brand, the strength of our product line and the passionate commitment of our team give me great confidence for FY25 and beyond.
“Our Q3 trading was as expected and our outlook for FY25 remains unchanged. We have made good progress against our objective of turning around our USA performance, with USA DTC in positive growth in Q3.
“We continue to actively manage our costs and are on track to meet our inventory reduction target for FY25. The team and I are squarely focused on returning the business to sustainable and profitable growth.”