Business
Trading Update
Trading Update.
About this update from Atlantic Lithium Limited.
[{"type":"text","content":"\n \nRNS Number : 6353J Allocate Software PLC 16 June 2014 \n \n\n16 June 2014\n \nALLOCATE SOFTWARE PLC\n(\"Allocate\" or \"the Company\")\n \nFull Year Trading Update\n \nRevenues in line, EBITDA and cash exceed market expectations\n \nAllocate Software (AIM: ALL), the leading provider of workforce and compliance optimisation solutions, today provides the following positive update on trading for its financial year ended 31 May 2014. The Company's audited results will be announced on 21 July 2014.\n \nOverview \n \nAllocate delivered another strong performance with full year revenues in line and EBITDA and cash ahead of market expectations.\n \nHealthcare - UK Healthcare bookings exceeded revenue, driven by Allocate Cloud demand \n \nThe Healthcare business, the Group's main division and primary growth driver, produced another successful year and has continued to perform strongly. During the period, this division secured a significant number of contracts with both new customers and also for new products. Healthcare revenue has risen to 86% of Group revenue from 79% in 2013.\n \nUK Healthcare bookings again exceeded revenue, driven principally by the accelerating deployment of the Allocate Cloud, which the Company launched in June 2013. \n \nAdoption of Allocate Cloud has exceeded management's expectation with the number of new customers secured in 2014 being significantly higher than that in the prior year. The adoption rate is high due to the reliability, ease of deployment, cost saving and security offered by the service. All Allocate Cloud customers secured in 2013 have either renewed their agreement or are in the process of doing so. This means that over one third of Allocate's NHS HealthRoster customers are now operating on the Allocate Cloud.\n \nHealthRoster, Allocate's core application, has maintained its strong growth with the number of new HealthRoster customers secured by the Company consistent with each of the prior two years. The high win rates of previous years have been maintained, as has the previous years' rate of competitive displacements. Additionally, the number of HealthRoster renewals significantly exceeded the number secured in the prior year with renewals continuing at the previously announced 100% rate. \n \nThe migratio...