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Posted by: HotViews Editor at 07:00
Insight’s Q1 results for the three months to end March show something of a mixed bag.
The "solutions integrator" saw a12% decrease in net revenue to $2.1bn but gross margin hit 19.3% on the back of an 80-basis point increase over the comparable period last year. Adjusted earnings per share was $2.06, down 13% year over year.
However, there were brighter spots. The firm hit its own expectations in hardware (servers and storage showed positive momentum) and is seeing momentum in AI-driven solutions. There have also been profitability improvements in IaaS and SaaS.
Although Insight’s quarterly commentary underlines the “increased volatility and uncertainty” in the market, Joyce Mullen, President and Chief Executive Officer, believes this represents a specific opportunity for Insight with its “low share position in a large and fragmented market”. Mullen’s view is that the firm can pick off opportunities where buyers want to escape complex contracts and find solutions to specific business problems with new suppliers.
In services, Insight’s Core Services revenue was down 2% as large enterprise clients “delayed services projects due to lack of market clarity”. The lag between a hardware sale and the services attached to that was a primary driver of the decline. However, it does sound like progress is being made specifically in Consulting where Insight is learning from its acquisitions in terms of methodologies and slick execution of projects.
One of those acquisitions was made by the EMEA business in summer of last year when is scooped up Brighton-based NWT. Furthermore, Mullen indicates more services acquisitions could be on the horizon.
As for the rest of the year, Insight says growth and profitability will be more heavily weighted towards H2 as it navigates partner program changes.
Posted by: Kate Hanaghan at 10:00
Tags:
results
M&A
hardware
AI
Palantir has made an impressive start to 2025, with Q1 revenue growing by 39% year-on-year. Based on strong momentum in the US commercial sector, the company has also raised its financial guidance for the full year; however, it continues to struggle against headwinds outside of the US.
Revenue for the three months ended 31 March 2025 was up 39% year-on-year to $884m (Q1 2024: $634m), representing a 7% improvement quarter-on-quarter. Gross profit was up 37% to $711m (Q1 2024: $518m) and income from operations was $176m (Q1 2024: $81m). Adjusted income from operations, which excludes stock-based compensation expense and related employer payroll taxes, was $391m (Q1 2024: $226m) and adjusted EBITDA was $397m (Q1 2024: $235m).
Palantir’s US commercial business remains the key growth driver, with revenue improving 71% year-on-year to $255m (Q1 2024: $150m). US government revenue grew 45% year-on-year to $373m (Q1 2024: $257m), helping to boost overall US revenue to $628m (Q1 2024: $408m), year-on-year growth of 55% and quarter-on-quarter growth of 13%. Largely due to ongoing challenges in Europe, Palantir’s US business represented 71% of total revenue during the period, compared to 64% at the same point last year.
International revenue was up 12% year-on-year to $255m (Q1 2024: $228m), with 45% growth in its international government business (taking revenue to $114m) being offset by a 5% decline in its international commercial business (resulting in revenue dropping to $141m). This represented the first year-on-year decline in international commercial revenue and is likely to have contributed to the subdued response to its results by investors.
International government revenue growth was attributed to the UK, through its ongoing work with the NHS (the NHS Federated Data Platform) and Ministry of Defence, as well as its new partnership with NATO (see NATO's tech acquisition: Palantir advances military AI involvement).
Speaking about Palantir’s international performance, CEO Alex Karp said, “Europe doesn’t get AI yet. At some point in the future, it will” but he warned “It could take a couple years for Europe to understand that you just can’t spend money, you’re gonna have to spend it on things that actually work”.
Although increased defence spending in Europe is likely to benefit Palantir, its business in the region will be impacted by ongoing concerns about EU-US trading arrangements, whether the US remains a reliable partner, and the associated prioritisation of investment in data sovereignty.
For the full year, driven by US commercial growth (which is expected to grow by at least 68% year-on-year), Palantir has raised its revenue guidance to between $3.890bn and $3.902bn.
Posted by: Dale Peters at 09:58
Tags:
results
software
AI
data
British defence tech startup Arondite has secured over £9m in funding to develop AI-powered software focused on human-machine teaming for autonomous systems. The £7.5m seed round, led by Index Ventures, follows an earlier undisclosed £1.7m pre-seed round from Concept Ventures and Creator Fund. The company intends to use the funds to expand operations and its development efforts.
Founded by former British Army Officer and Palantir alumnus Will Blyth (CEO) alongside Rob Underhill (CTO), previously lead engineer at BAE Systems, Arondite is tackling what it calls the "Cambrian explosion" in robotic and autonomous systems. While battlefield interoperability specialists like 2iC focus on secure tactical communications infrastructure (2iC: Big opportunities in battlefield interoperability | TechMarketView), Arondite distinguishes itself by concentrating on AI governance and human control across autonomous fleets. It serves as the "connective tissue" that enables human operators to safely oversee and direct mixed-manufacturer autonomous systems.
In a sector where new AI-focused defence tech SMEs are increasingly capturing MOD attention, Arondite's funding success positions it alongside other British defence innovators like Adarga (Adarga wins £12m R&D deal with MOD | TechMarketView) and Oxford Dynamics (Oxford Dynamics secures £2m GenAI deal with MoD | TechMarketView), which have recently secured EA Lite contracts with the Ministry of Defence.
Blyth's military experience has directly shaped Arondite's vision. He noted in recent blog posts that the company was founded on the belief that "the collective values of the democratic world are under real and increasing threat" and that "defence systems that don't talk to each other make operations far more dangerous."
Unlike traditional interoperability solutions that focus on communications infrastructure (a space where established players like 2iC have been developing solutions for frontline operational units), Arondite's platform addresses three AI-specific challenges: understanding and control over AI models, managing data complexity across autonomous systems, and enabling dynamic teaming of human-machine systems.
This approach complements other critical areas of defence tech innovation, such as Nexor's work on secure information exchange across multiple domains (Nexor: New defence wins underline company strengths | TechMarketView). Nexor, which leads a consortium including 2iC for the MOD's Futures Lab MDIS project, focuses on edge-based processing for battlefield data sharing, showcasing how different UK SMEs are addressing various aspects of the defence interoperability challenge.
In a global environment where defence organisations are rapidly adopting AI technologies for operational use (see NATO's tech acquisition: Palantir advances military AI involvement | TechMarketView), Arondite's specific focus on maintaining human control while enabling AI-driven integration could prove particularly timely.
This significant investment comes amid a broader trend of AI companies entering the defence sector, with notable examples including OpenAI's partnership with Anduril announced late last year—a dramatic shift for a company that previously prohibited military applications of its technology (OpenAI's Military Pivot | TechMarketView). With venture capital and private equity investment in defence tech reaching nearly $2.6bn by September 2024 (exceeding the entire 2023 figure), Arondite's funding reinforces our earlier predictions about accelerating defence tech innovation and growing private investment in UK-based defence SMEs throughout 2025.
Posted by: Georgina O'Toole at 09:40
Tags:
defence
funding
investment
AI
interoperability
public sector
defencetech
Indian IT services provider Hexaware has unveiled its new UK headquarters at Canary Wharf, as the company further consolidates its presence in the UK market. I recently caught up with Parameshwaran (Param) Iyer, Senior Vice President and Regional Head – UK and Ireland, and Amrinder Singh, President and Head - EMEA and APAC Operations, to understand more about the tech supplier's plans for future growth.
Hexaware’s UK business has expanded substantially over the past 10 years, transforming from a c.£10m operation to a £150m business, with the company achieving a 25% CAGR over the period. In particular it has found strong traction in banking and financial services (c.50% of revenues), Healthcare (c.15% of revenue) and manufacturing and retail (c. 30-35%). The firm employs c.650 employees in the UK, which equates to around 20% of its UK delivery capability, with remaining resources distributed across nearshore locations in Warsaw and Romania, and offshore centres in India and the Philippines. Hexaware also operates a Birmingham delivery centre with c.120 staff providing technical support services.
Leading the UK charge is Parameshwaran "Param" Iyer, who assumed the role of Senior Vice President and Regional Head for UK and Ireland earlier this month after 21 years with the company, previously spearheading UK growth in the banking, financial services and healthcare verticals. Looking ahead, Param highlighted the business is aiming to also expand its UK public sector presence, which currently comprises around 5% of the business, with a target to grow that to around 15-20%. The utilities market has also been an area the business has found strong traction, working with clients such as Yorkshire Water and Thames Water.
Hexaware is positioning itself as a “modernisation and transformation catalyst” rather than merely a supplier providing staff augmentation. They aim to have 50% of services delivered through digital labour by 2030, focusing on implementing AI and automation across all service lines. "We've not tried to centralise AI and GenAI because every division and department is doing something on AI" explained Param.
The business has also developed a number of proprietary platforms including Tensai for AI/automation delivery, Amaze for cloud modernisation, and RapidX for digital engineering. Further investment into its UK operations are also planned we were told, and despite current market headwinds (which has resulted in faltering growth for many of its competitors), Hexaware is still projecting sustained 20-25% annual growth in the UK.
Posted by: Simon Baxter at 09:38
Mid-tier offshore service provider, Coforge capped off an exceptional FY25 with a very impressive final quarter performance. Revenue for the three months ended 31st March surged by c44% yoy at constant currency to lift full year turnover to $1.45bn, up by almost a third on FY24. The rapid pace of expansion did not come at the expense of profitability with the company’s adjusted EBITDA margin holding steady against the prior year at 18%.
As we have noted before (see here), the most significant contribution to Coforge’s FY25 growth came from the firm’s $220m acquisition of Cigniti Technologies last July. We estimate that, on an organic basis, the company’s top line improved yoy by a still noteworthy c.20% last year. This rate of increase is approaching five times faster than that of the better performing offshore majors over the same period (see here).
The impact of the Cigniti buy was most marked on its new owner’s Americas business with FY25 sales in the region jumping by almost a half yoy to $780m. Coforge’s progress in Europe, within which the UK accounts for around half of territory revenue, was less dramatic. Turnover in this geography increased by around 16% yoy to $503m.
No forward guidance was provided. The company did, however, enter FY26 with strong momentum. Five large wins in Q425, which included the 13-year megadeal with Sabre (see here), helped to fuel a 47.7% yoy rise in the firm’s executable order book for the next twelve months. Coforge’s previously stated ambition of becoming a $2bn revenue business by FY27 (see here) is looking increasingly achievable.
Posted by: Duncan Aitchison at 09:01
Tags:
results
offshore
IT+services
Posted by: HotViews Editor at 07:00
The Home Office has been piloting the use of artificial intelligence (AI) in the asylum decision making process, as it seeks to deliver a more efficient service without limiting human oversight or autonomy.
The department is currently trialling two tools in this area of its work. The Asylum Case Summarisation (ACS) tool employs Large Language Model (LLM) technology to extract and condense information from asylum interview transcripts, helping reduce the time it takes users to read and analyse case documents and interview transcripts. The Asylum Policy Search (APS) tool functions as an AI search assistant that speeds up the process of finding and summarising relevant Country Policy Information Notes (CPINs) and Country of Origin Information Requests (COIRs).
Using a combination of case logging, a survey of users and semi-structured interviews, the evaluation discovered that, despite some limitations, there are potential time savings associated with both the ACS and APS tools. On average, decision-makers utilising ACS processed transcripts 23 minutes faster per case and APS implementation yielded an average time saving of 37 minutes per case. In both cases, quality assurance reviews indicated no adverse impact on decision quality.
The majority of users (65% for ACS and 54% for APS) want to continue to use the tools, but there were concerns about whether they were delivering the right amount of information, including a lack of source references. Although some users were not fully confident in the information provided by the tools, most thought they could be improved by adding additional functionality. This highlights the difficult balance with ‘human in the loop’ AI implementations, where additional functionality can improve efficiency but also has the potential to reduce human autonomy in decision making and risks an over-reliance on the technology.
At the end of December 2024, there were 90,686 asylum cases (relating to 124,802 people) awaiting an initial decision. Streamlining asylum processing will deliver clear benefits: alleviating the uncertainty for applicants caught in administrative limbo, reducing the impact on the public purse, and strengthening public confidence in the government’s competence regarding immigration. Although the ACS and APS tools are part of relatively small-scale pilots, they clearly demonstrate the potential AI has in delivering strategic benefits and productivity improvements.
As we discussed earlier this year (see Plans and progress of UK government AI adoption), the government’s AI adoption progress to date has been underwhelming, struggling to generate the momentum and targeted funding to move beyond underdeveloped pilots. It needs to move quickly to address the barriers to using AI at scale.
Posted by: Dale Peters at 10:04
Tags:
research
government
AI
trial
LLM
iomart is continuing with its transition by today announcing its planned rebranding to Atech. It’s a bold move for the AIM-listed firm, signifying a break with the past, which will be implemented over a period of time.
Atech was acquired by iomart back in October) and will add £21m to the revenue line in the current year (to end June).
iomart is moving through a period of transition as it seeks to reposition itself as a hybrid cloud services provider with strong cyber offerings. The Atech acquisition has been pivotal in that strategic shift and its contributions are clear.
However, and not surprisingly, the shift is not pain-free, and the numbers show iomart is taking the hits as it continues to transition into those growth areas. But you know what they say, short term pain for long term gain – and the changes being made should provide more resilience and long-term potential in time.
The acquired Atech business had built a particularly strong reputation around security, for which it has been recognised by Microsoft. Other areas of focus include Azure infrastructure, Data & AI, modern workplace.
CEO, Lucy Dimes, continues to live up to the firm’s stated aim of being “Bigger, Better, Bolder”.
Posted by: Kate Hanaghan at 10:00
Tags:
brand
security
hybridcloud
Digital Catapult, the deep tech innovation organisation established by Innovate UK, has announced the opening of a new digital twin centre in Belfast.
Funded by the Belfast Region City Deal and Innovate UK, the purpose of the project is to help accelerate the adoption of digital twin technology in the UK’s “critical sectors”. It is estimated that this could be worth £62m in GVA (Gross Value Added) for the UK economy over the next decade. 
Digital twins are dynamic virtual representations (in other words a 'twin') of a physical asset, process, or system. They bring together the physical and digital worlds and help to optimise performance, bring down costs, and make predictions for outcomes.
The centre, delivered by Digital Catapult, has also been helped by co-investing industry partners: Artemis Technologies, Spirit AeroSystems, and Thales UK. As well as the financial contribution, they will be able to create demonstrations for use cases.
The move is great news for Belfast (e.g., job creation, economic boost) but also the UK economy more broadly, helping to foster opportunities in high growth sectors, such as advance manufacturing.
Further reading on Digital Catapult here:
Posted by: Kate Hanaghan at 09:50
Tags:
investment
digitaltwin
economy
Having broken the $100bn revenue barrier for the FY in 2024 AWS, Amazon's cloud computing division, posted impressive 17% YoY growth with revenue of $29.3bn. The segment generated operating income of $11.5bn, up from $9.4bn in Q1 last year, demonstrating its value as Amazon's profit powerhouse. AWS secured numerous high-profile agreements with blue-chip clients including Adobe, Uber, Nasdaq and Ericsson during the quarter.
Amazon itself saw Q1 2025 revenue reach $155.7bn, representing a 9% YoY increase (10% in constant currency). North America remains Amazon's largest segment with sales of $92.9bn (up 8%), while International grew 5% to $33.5 bn. What impact tariffs have on this we shall see further down the line.
Amazon has significantly expanded its AI capabilities, particularly within AWS, introducing several new offerings including additional foundation models in Amazon Bedrock (such as Anthropic's Claude 3.7 Sonnet and Meta's Llama 4). The launch of Amazon Nova Sonic, a speech-to-speech foundation model, further demonstrates AWS's commitment to advancing AI technologies.
For Q2 2025, Amazon forecasts revenue between $159bn and $164bn (7-11% growth) and operating income between $13.0bn and $17.5bn. The guidance reflects confidence in continued momentum, particularly in cloud services, despite ongoing macroeconomic uncertainties and tariff headwinds.
Posted by: Marc Hardwick at 09:06
Tags:
results
cloud
Aim listed Smarttech247 is a UK&I HQ'ed cybersecurity supplier we have tracked for some time, recently winning several key deals and posting strong double-digit growth in its latest filings. Earlier this week I caught up with Smarttech247 CEO, Raluca Saceanu, to understand more about the company’s latest results and where the business is targeting growth in the year ahead.
Smarttech247 reported revenues increased by 21% to €6.49m for the six months ended 31 January 2025, with a 32% increase in recurring revenue (vs. H124). Growth outpaced the previous year's performance of 17% as the business continues to demonstrate strong market traction for its MDR solutions. Smarttech247 recently announced it had won a multi-year cybersecurity framework agreement with a major international airport in London, with the aviation industry shaping up as strong growth opportunity, as well as an Endpoint Detection and Response (EDR) deal with a major hospital in Ireland (See - Smarttech247 awarded framework with major London Airport). Strong traction internationally, particularly in the US and in Europe, is also creating wider opportunities.
The cybersecurity supplier’s flagship platform VisionX continues to be a key investment focus, supporting the company’s three-pillar strategy: securing multi-year contracts with high renewal rates, expanding internationally, and developing strategic partnerships. There are several further strong drivers for the business, including ongoing investments in data security as well as a drive to further consolidate point security solutions. Saceanu highlighted that they are finding clients are looking for preferably one partner for multiple solutions and a single source of truth. That said, she also noted that sales cycles have lengthened considerably, with procurement departments taking a more central role in purchasing decisions.
"Data security is paramount right now. Every single conversation with clients revolves around protecting their data, particularly with concerns about AI being introduced into organisations" said CEO, Raluca Saceanu.
Unlike competitors who focus solely on endpoint detection and response (EDR), Smarttech247 positions itself as a holistic Managed Detection and Response (MDR) provider. "We look at networks, cloud, on-premises infrastructure, data security, every aspect of cybersecurity bridged into one platform," Saluca noted.
The business is positioning itself as more of a competitor to system integrators than to other security platform providers and has established partnerships with the likes of Palo Alto Networks, CrowdStrike, Wiz and Splunk. The company's sweet spot is serving organisations with complex security needs, including critical infrastructure operators requiring both IT and operational technology (OT) security expertise. At a time when many of the SI’s are struggling to find growth, Smarttech247 seems to be bucking the trend, proving secuirty spending remains resilient to the current market turmoil.
Posted by: Simon Baxter at 08:40
Posted by: HotViews Editor at 07:00
In our latest PublicSectorViews report – Trustmarque’s Public Sector regional-based strategy: Optimising technology value in communities - we examine how Trustmarque is carving out a distinctive position in the UK public sector tech market through its regional-based strategy.
Under Chris Jones' leadership as Head of Public Sector, Trustmarque has evolved its positioning from a traditional VAR to an "optimisation partner" for public sector organisations - a strategy detailed by CEO Simon Williams last summer (see *UKHotViewsExtra* Trustmarque: The Optimisation Partner | TechMarketView). The company's impressive 50/50 split between product and services revenue reflects this strategic shift.
How is Trustmarque differentiating itself in a competitive landscape that includes traditional VARs like Phoenix and Bytes, while also competing against larger systems integrators? What challenges does its regional approach face as it expands across the UK?
Our analysis explores Trustmarque's proprietary tools, regional successes, and future growth potential as public sector organisations continue their digital transformation journeys despite ongoing budget pressures.
TechMarketView PublicSectorViews subscribers can download the report now. If you are not yet a subscriber – or are unsure if your organisation has a corporate subscription – please contact Belinda Tewson to discover how to access this detailed research and far more besides.
Posted by: Georgina O'Toole at 16:14
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Despite ongoing tariff uncertainty, Microsoft delivered another solid performance in Q3 (three months ended March 31st, 2025). To address growing concerns about potential disruptions to cloud services caused by worsening EU-US trading relations, the company also announced new European digital commitments.
Revenue for the period was up by 13% year-on-year (15% in constant currency) to $70.1bn; this compared to 17% growth in the same period last year (Q3 2024) and 12% growth in Q2 2025. Year-to-date (YTD) revenue was up by 14% to $205.3bn. Operating income improved by 16% (19% in constant currency) to $32.0bn, with YTD operating income up 16% to $94.2bn. Meanwhile, net income increased by 18% (19% in constant currency) to $25.8bn, with YTD improving by 13% to $74.6bn.
On a segmented basis, Revenue in Productivity & Business Processes was up by 10% (13% in constant currency) to $29.9bn and More Personal Computing revenue increased by 6% (7% in constant currency) to $13.4 billion; however, Intelligent Cloud remains the key growth driver. Revenue in this part of the business increased by 21% (22% in constant currency) to $26.8bn, driven by 33% growth (35% in constant currency) in Azure and other cloud services revenue. The demand for AI continues to drive growth in this segment, with a 16 percentage point contribution to growth being attributed to AI services.
Looking ahead, Microsoft expects Q4 revenue growth in Productivity & Business Processes and Intelligent Cloud (in constant currency) to be broadly consistent with Q3; however, More Personal Computing revenue is expected to decline year-on-year. It also warned that, while it continues to add datacentre capacity, demand is growing faster, so it expects to experience AI capacity constraints beyond June.
In a bid to quell fears that the US administration might start to throttle or suspend cloud services if EU-US trading relations worsen, Brad Smith (vice chair & president of Microsoft) announced five new commitments to Europe. This includes helping to build a broad AI and cloud ecosystem; upholding Europe’s digital resilience even when there is geopolitical volatility; continuing to protect the privacy of European data; defending Europe’s cybersecurity; and strengthening Europe’s economic competitiveness.
Its European Digital Resilience Commitment includes a promise to “promptly and vigorously” contest any governmental order to suspend or cease European cloud operations, using “all legal avenues available”. The company is making this commitment legally binding on Microsoft Corporation and all its subsidiaries for all contracts with European national governments and the European Commission.
Although Microsoft believes such an order to be “unlikely”, the fact that it is making this commitment reflects increasing concerns about the geopolitical volatility triggered by the US government. These policies are raising important questions about US companies’ dominance of cloud services and increasing calls for investment in sovereign infrastructure in the EU and the UK. For more on the US-UK trade situation, see TechMarketView’s recent report: US-UK tariff situation: UK tech market implications.
Posted by: Dale Peters at 10:08
Tags:
results
cloud
AI
data
hyperscalers
Europe
tariffs
sovereignty
Denmark-headquartered IT consultancy Netcompany has announced solid results for Q1 2025 (ended 31st March 2025), with group revenue increasing 9% year-over-year in constant currency to DKK 1,744.3m and adjusted EBITDA climbing 25% ccy yoy to DKK 307.3m, representing a margin improvement of over 2 percentage points to 17.7% ccy.
During Q1, Netcompany announced the acquisition of SDC (a Scandinavian banking solutions provider) that will create a new combined company, fully owned by Netcompany: Netcompany Banking Services (see Netcompany acquires SDC to expand Nordic banking services). However, that’s yet to affect revenue results – with the transaction on schedule to be completed around mid-2025.
Netcompany’s UK operation delivered stable performance amid continued market challenges, with revenue of DKK 162.4m broadly in line with Q1 2024 (down just half a percent). Public Sector revenue showed a welcome return to growth (up 9% in the quarter to DKK 126.9m, coming off the back of a 12.1% fall across FY24 – see Netcompany up 7.4% overall in FY24, though contract delays dampen UK public sector), with the DALAS framework “slowly starting to show positive trends”. This suggestion of potential for increased activity in coming quarters is particularly significant, as Public Sector now represents 78% of Netcompany UK's revenue.
The company’s UK private sector business saw a 22.2% decline in Q1 2025 to DKK 39.6m (reversing the 10.6% growth trend it showed across FY24), largely due to the strategic discontinuation of historical low-margin contracts. However, this deliberate portfolio realignment in the private sector has yielded positive results for Netcompany UK, with gross profit margin increasing to 21.8% compared to 19% in the same quarter last year. Adjusted EBITDA margin also improved by 1.6 percentage points to 11.3%.
Despite the current macro-economic situation, Netcompany reiterated its FY revenue growth expectations of between 5% and 10%, and an adjusted EBITDA margin between 16% and 19%. For the UK business specifically, the improving margin profile and strategic focus on public sector work positions the operation well for profitable growth as the DALAS framework gains momentum throughout 2025.
Posted by: Craig Wentworth at 10:00
Tags:
results
growth
frameworks
Eleco plc, a building lifecycle software company, delivered an FY24 performance ahead of market expectations in terms of revenue, profitability and cash. Turnover for the twelve months ended 31st December increased by 17% yoy at constant currency to £32.8m with the associated EBITDA rising by 24% yoy to £7.2m. Cash, post acquisition activity, was up by £3.1m to £14.0m and the company remains debt free.
Eleco’s top line improvement was assisted by the purchase of Romania-HQ’d software developer Vertical Digital at the start of Q224. The company also clocked up record recurring revenue growth in FY24 with ARR by increasing 18% yoy to £26.6m.
Despite the present geopolitical and macroeconomic situation, Eleco is confident that it remains on a strong growth trajectory. The post FY end purchase of Irish SaaS Computerised Maintenance and Management Software specialist PMI Software Ltd (PEMAC) will certainly help to sustain the company’s forward momentum and investors appear to share Eleco’s optimism on the outlook. At the time of writing Eleco’s share price was up by 11.6% on last night’s close to leave the company worth almost two fifths more than it was twelve months ago.
Posted by: Duncan Aitchison at 09:43
Tags:
results
saas
software
construction
Teleperformance (now rebranded as TP) has delivered a solid Q1, with revenue reaching €2,613m, up 2.8% as reported and 1.6% like-for-like. When adjusted for the non-renewal of its UK visa management contract, like-for-like growth improved to 2.6%. TP had been contracted to manage visa applications in various regions, including Europe, the Middle East, and Sub-Saharan Africa. However, in late 2023, a new contract for the UK's overseas visa and citizenship services was awarded to VFS Global.
The contact centre giant saw momentum in its Core Services segment (+2.3% like-for-like), with a decent performance across Europe, the Middle East, Asia-Pacific, India and Latin America. Growth was primarily driven by public services, travel and hospitality, and media/entertainment sectors, alongside development in back-office/BPO services.
The UK numbers are not split out but its referenced that the UK “grew at a dynamic pace and confirmed the trend started in the fourth quarter of last year” benefiting from a ramp-up of new contracts, particularly in the public services and financial services sectors.
Specialised Services revenue increased 10.7% as reported but declined -2.4% like-for-like, reflecting both the integration of ZP (acquired February 2025) and challenges in LanguageLine Solutions amidst a tough business environment.
The company continues its strategic pivot towards AI, forming partnerships with agentic AI firms Ema and Parloa as part of its €100m investment programme for 2025. These partnerships aim to integrate agentic AI solutions with human expertise across customer experience and back-office operations.
With the Majorel integration proceeding alongside the reorganisation of French activities, TP has confirmed its full-year 2025 outlook of 2-4% like-for-like growth (3-5% adjusted for the visa contract loss) and a slight improvement in recurring EBITA margin of 0-10 basis points.
Posted by: Marc Hardwick at 09:34
Tags:
results
CXM
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Posted by: TechMarketView Team at 09:33
Cognizant has kicked-off FY25 with a robust Q1 performance. Above top end of guidance revenue growth saw company turnover increase by 8.2% yoy to $5.1bn for the three months ended 31st March. As we flagged in our commentary on Cognizant’s FY24 results (see here), the purchases last year of Belcan and Thirdera contributed significantly to the top line uptick, Recent acquisitions accounted for around a half of the first quarter revenue improvement. Adjusted operating margin increased by 40 bps yoy to 15.5%.
The boost from inorganic growth was enjoyed most both in Cognizant’s North America region and by the company’s Products & Resources vertical unit. Sales in these facets of the business were up by 9.7% and 13.6% to $3.85bn and $1.28bn respectively. Demand from the firm’s Health Sciences clients also held up well. Turnover in this sector, now Cognizant’s largest industry segment by revenue, increased by 11.4% yoy to $1.57bn.
There was also a notable acceleration in Cognizant UK & Ireland’ growth during first quarter. A c.4% qoq increase in sales lifted turnover in the territory to $457m for the period. This was thanks mainly to increasing momentum in the region’s Retail & Consumer Goods, Financial Services and Public Sector verticals with Q1 wins including deals at MacDonalds, Home Office and Ministry of Housing, Communities and Local Government. The geography’s yoy top line improvement was limited to 1% due to a technicality relating to a change to internal revenue recognition for a particular contract.
Despite the better than expected start to the year in terms of revenue, the company’s bookings for the period proved less resilient. These dipped by 7% yoy in Q1 to leave them up by just 3% on a trailing twelve-month basis at $26.7bn. Cognizant has left guidance for FY25 unchanged with turnover projected to grow at between 3.5% and 6% at constant currency to between $20.5bn and $21.0bn.
Posted by: Duncan Aitchison at 09:27
Tags:
results
offshore
IT+services
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