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Friday 14 February 2020

*UKHotViewsExtra* Endava turns twenty in rude health

LogoLondon HQ'd IT services company Endava marked its twentieth birthday with another set of impressive results. Continuing at the pace set by the company during the first quarter of this FY (see here), constant currency revenue in Q220 (the three months to 31st December) increased by over 20% yoy to just shy of £86m. The declaration of a non-recurring, discretionary employee bonus of £27.7m at the end of last year drove a loss before tax for the period of £17.3m compared to a profit before tax of £9.4m in Q219. Adjusted profit for the last quarter, however, was up 51% yoy to £20.5m generating a margin of 23.8%, up 490 bps on the same period in the prior year.

Most facets of the business again experienced growth during the third quarter with North America leading the charge. Sales in this region increased by 28% yoy. Only Europe failed to increase turnover in Q220. By the end of 2019 Endava’s headcount reached 6,267 up 16% from the level 12 months earlier.

Looking ahead, the company expects that full year revenues will be in the range £349m to £353m, representing constant currency growth of between 25% and 26%. FY20 is shaping up to be another impressive year for this UK tech success story and NYSE unicorn.

We recently caught up with Endava CEO, John Cotterell. All TechMarketView subscription clients, including UKHotViews Premium subscribers, can read more about this company’s performance and plans here HotViewsExtra: Endava turns twenty in rude health.

Posted by: Duncan Aitchison

Tags: results   systemsintegration   itservices   digital  

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