Financial software giant Alfa has praised the commitment and hard work of its staff after posting a leap in revenue and profits.
In its first results since being listed on the London Stock Exchange, Alfa announced half-year revenue of £45.1 million, up 57% on the same period last year, with operating profit up 15% to £14 million.
Currency fluctuations helped push revenues higher as nearly half of its business comes from the US, which has strengthened substantially against the pound, but revenues were still up 29% of nearly £10 million on a constant currency basis.
Earnings per share rose 38% to 3.6 pence.
Alfa, a leading developer of mission critical software for the asset finance industry, was listed on the stock market in June with a market capitalisation of around £1 billion.
The company is the force behind Alfa Systems, a purpose-built software platform that is used by asset finance companies throughout the automotive and equipment finance market across the entire asset finance lifecycle.
This covers from proposal to end of lease, across a range of asset types and financing structures.
A number of major asset finance companies across the globe are customers, including Bank of America, Barclays, Mercedes-Benz and Nordea.
Andrew Denton, CEO of Alfa, said: “Our IPO was always about creating a platform to grow our business and in the relatively short period since then we've continued to deliver on our strategic plan, maintaining focus on expanding our customer base and on the ongoing development of Alfa Systems."
Highlights include two new customer wins in the first half of the year, taking the total number of customers to 31, three successful contract implementations, including two in a single weekend, and an increase in headcount to 300 to allow for increased fee earning capacity.
Denton added that the business has a staff retention rate of 90% and said the company was focused on bringing in, retaining and developing the best talent to support growth.
He added: “We have a diverse and professional workforce whose commitment, hard work and talent has made a real difference to our customers.
“We are one of the leading graduate recruiters and we will continue to develop home-grown talent within the business.”
He said Alfa has a strong pipeline of future projects and continues to invest in product development with a fresh user-interface being rolled out.
New cloud-based services on the horizon will also lead to a ‘Cloud First’ sales approach, he said.
Denton added: “Our experience and expertise in equipment and motor finance, our modern technology and the quality of our people are key to Alfa's delivery capability.”
The company reported that political uncertainty still hinders UK activity at the enterprise level but European and US markets are strong.