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Wednesday 29 July 2020

Aptitude demonstrates its resilience

AptitudeAptitude, the provider of accounting and compliance tools for the financial services industry, has released interim results reflecting a small increase in revenue and profits. Despite the retarding impact of COVID-19, for the six months ended 30 June 2020, overall revenue was up 1% to £29.1m whilst pre-tax profits rose by 2.9% to £4.5m

Software and subscription revenue grew by 4% to £14.7m whilst Implementation and Service revenue declined by 2% to £14.4m. Off the back of this, Aptitude's Annual Recurring Revenue (ARR) rose by a healthy 11% year on year on a constant currency basis.

Whilst the latest figures reflect something of a slowdown on the company’s medium-term performance, the results reflect Aptitude’s overall resilience in the face of the pandemic and also the value of the decision to move to subscription-based pricing (see: Aptitude maintains strong trajectory).

Meanwhile, Aptitude’s expanded partner network and global market push appear to be bearing fruit, with Japan in particular offering some promise. Despite lengthened sales cycles the company remains bullish about future prospects as the market adapts to the realities of transacting business in the post-COVID world.

Posted by: Jon C Davies

Tags: interims  

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