IN BRIEF: Microlise swelling profit boosted by UK HGV driver shortage

Microlise Group PLC - Nottingham, England-based transport management software firm - Posts ...

Alliance News 28 September, 2021 | 11:41AM
Email Form Facebook Twitter LinkedIn RSS

Microlise Group PLC - Nottingham, England-based transport management software firm - Posts improved interim profit as lorry operators look to improve efficiencies by using software amid the ongoing lorry driver shortage in the country. Posts a pretax profit of GBP2.2 million, up sharply from GBP700,000 a year before. Microlise changed its financial year end to December from June, with these interim results therefore covering a 12-month period. Revenue is up 14% to GBP57.0 million from its previous GBP50.0 million position.

The firm notes that gross margins have reduced due to the higher prices paid as a result of the global chip shortage, with additional component costs of GBP500,000 because of this.

"Long term, we are confident about the prospects for the group as fleet operators wrestle with the need to become more efficient and meet demanding environmental regulations. Challenges which our product portfolio can help them meet," comments Chief Executive Nadeem Raza.

Current stock price: 220.00 pence, down 5.4% Tuesday

Year-to-date change: up 50% since July float

By Will Paige; willpaige@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

Email Form Facebook Twitter LinkedIn RSS

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Microlise Group PLC Ordinary Shares 196.60 GBX -1.70 -

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.