ActiveOps PLC on Tuesday said revenue was up while pretax loss narrowed as it looks to improve its profitability.

ActiveOps shares rose 6.0% to 88.50 pence per share Tuesday morning in London.

The Reading, England-based management process automation software provider for back-office operations reported revenue of £25.5 million for the year ended March 31, increasing 11% from £22.9 million in its financial 2022.

The revenue figure saw a 13% boost from software and subscription revenue from both new and existing customers, increasing to £22.1 million from £19.6 million. Meanwhile, training and implementation revenue was flat at £3.4 million, with a strong performance in the second half of the year following a ‘slow’ start.

ActiveOps posted pretax loss of £230,000, narrowing from a loss of £2.6 million the year prior. The company’s loss per share also narrowed to 0.70 pence, from 3.83p a year ago.

ActiveOps did not declare a dividend for financial 2023.

Looking ahead, the firm said it will continue to focus on improving profitability and managing operating costs, as well as expanding its product offerings.

Trading in financial 2024 has so far been in line with expectations, the firm said.

Chief Executive Richard Jeffery said: ‘This has been a year of significant progress for ActiveOps, in which we have won new customers across all regions, grown our existing customer accounts, and launched new products which materially expand our addressable market.

‘Trading in the first few months of the year has been steady, driven by expansions at existing accounts and the addition of two new customers with significant expansion potential. The sales pipeline remains healthy and the progression of sales opportunities is increasingly well supported by our marketing efforts and the significant interest in the new software capabilities we are releasing this year.’

Copyright 2023 Alliance News Ltd. All Rights Reserved.