Business
Interim Results
Interim Results.
About this update from Aptitude Software Group Plc
[{"type":"text","content":"\n\n 25 July 2024\nAPTITUDE SOFTWARE GROUP plc\n('Aptitude Software' or 'the Group')\nInterim Results for the six months ended\n30 June 2024\nAptitude Software Group plc (LSE: APTD), a market leading provider of AI Autonomous Finance solutions, providing a differentiated approach to finance transformation and enabling finance teams to become strategic partners to the business, reports its unaudited results for the six months ended 30 June 2024.\nFinancial Highlights\n\n\n\n\nSix months ended 30 June\n\n\nH1 2024\n\n\nH1 2023\n\n\n% Change\n\n\n\n\nAnnual Recurring Revenue ('ARR') at 30 June\n\n\n \n\n\n \n\n\n\n\n\n\n\nAnnual Recurring Revenue1\n\n\n£50.8m\n\n\n£49.7m2\n\n\n2%\n\n\n\n\n- Software ARR at 30 June1\n\n\n£46.7m\n\n\n£45.2m2\n\n\n3%\n\n\n\n\n- Assure ARR at 30 June1\n\n\n£4.1m\n\n\n£4.5m2\n\n\n(9%)\n\n\n\n\nRevenue\n\n\n \n\n\n \n\n\n\n\n\n\n\nTotal Revenue\n\n\n£35.3m\n\n\n£37.5m\n\n\n(6%)\n\n\n\n\n- Recurring Revenue3\n\n\n£27.5m\n\n\n£27.0m\n\n\n2%\n\n\n\n\n- Implementation Revenue\n\n\n£7.8m\n\n\n£10.5m\n\n\n(26%)\n\n\n\n\nProfit\n\n\n \n\n\n \n\n\n\n\n\n\n\nAdjusted Operating Profit4\n\n\n£4.2m\n\n\n£4.2m\n\n\n-\n\n\n\n\nStatutory Operating Profit\n\n\n£2.5m\n\n\n£1.7m\n\n\n47%\n\n\n\n\nAdjusted Operating Margin4\n\n\n11.9%\n\n\n11.2%\n\n\n0.7%\n\n\n\n\nCash and Balance Sheet\n\n\n \n\n\n \n\n\n\n\n\n\n\nCash and Cash Equivalents\n\n\n£24.4m\n\n\n£24.5m\n\n\n(0%)\n\n\n\n\nNet Funds5\n\n\n£13.8m\n\n\n£12.2m\n\n\n13%\n\n\n\n\nInterim Ordinary Dividend per Share\n\n\n1.8p\n\n\n1.8p\n\n\n-\n\n\n\n\n \n\n\n\n\n· \n\n\nIncreasing growth in Software ARR of 3% (H1 2023 2%, FY 2023 0%), driven by a strong new business performance to 30 June 2024, including wins in Fynapse and Revenue Management.\n\n\n\n\n· \n\n\nImproved performance from the software base, with the software net retention rate6 increasing to 99% (H1 2023 96%, FY 2023 96%) reflecting the revised strategic focus and operational improvements taking effect.\n\n\n\n\n· \n\n\nRecurring revenue accounted for 78% of the Group's total revenue (H1 2023 72%, FY 2023 71%), and coupled with ...