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Cloud company IMImobile reported a sharp jump in profit as revenue was boosted by strong growth in its cloud communications products.
For the year ended 31 March 2020, pre-tax profit rose 341% to £3.1m on-year as revenue increased 20% to £171.2m.
Cloud communications products, platforms and services, which contributed 82% of gross profit, grew by more than 38% year on year.
Following the period end, the group had seen 'clear positive' momentum across its regions, the company said.
'Performance in North America, the largest addressable and growth market for the group's product set, continues to be encouraging, with new strategic deployments for large US retailers having continued during the first quarter,' it added.
At 9:00am: (LON:IMO) Imimobile PLC share price was +20p at 330p