{"id":464400,"date":"2019-01-22T10:50:41","date_gmt":"2019-01-22T09:50:41","guid":{"rendered":"https:\/\/en.financialafrik.com\/?p=464400"},"modified":"2019-01-22T10:50:41","modified_gmt":"2019-01-22T09:50:41","slug":"ideagen-set-to-celebrate-a-decade-of-successive-growth","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2019\/01\/22\/ideagen-set-to-celebrate-a-decade-of-successive-growth\/","title":{"rendered":"Ideagen set to celebrate a decade of successive growth"},"content":{"rendered":"<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div><p align=\"center\"><em>The UK-based global software firm unveiled its unaudited interim results today for six months ended 31<sup>st<\/sup>\u00a0October 2018<\/em><\/p>\n<p align=\"center\">\n<p align=\"center\"><em><u>Highlights include;<\/u><\/em><\/p>\n<ul>\n<li><em>22% rise in revenues to \u00a321m (\u00a317.2m in 2017)<\/em><\/li>\n<li><em>Recurring revenues increased by 30% to \u00a314m<\/em><\/li>\n<li><em>Software as a Service (SaaS) bookings increased by 80% to \u00a36.6m<\/em><\/li>\n<li><em>Acquisition strategy doubles the size of key quality and audit business areas<\/em><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>Ideagen today (Tuesday, January 22nd) announced that it expects to record its tenth successive year of growth following the publication of its unaudited interim results this morning.<\/p>\n<p>The UK-based, global software firm delivered a strong market update with half-year performance in line with expectations and a strong outlook for the second half of the year.<\/p>\n<p>Revenues increased by 22% to \u00a321m, while recurring revenues rose by 30% to \u00a314m. Like-for-like bookings stood at \u00a314.5m, an increase of 34%, while Software as a Service (SaaS) bookings showed an increase of 80% to \u00a36.6m.<\/p>\n<p>There were significant operational highlights in the year, including the acquisitions of Morgan Kai Group Ltd and InspectionXpert Ltd, doubling Ideagen\u2019s audit and quality inspection business.<\/p>\n<p>GlaxoSmithKline, Clydesdale Bank, McLaren and Mercedes were among the prominent new client wins in the period.<\/p>\n<p>Ben Dorks, who took up his position as CEO in May last year, replacing David Hornsby who stepped into the Executive Chairman role, said: \u201cWe are delighted to report on another strong performance from the Group across all of our vertical markets and geographies during the first half of the year.<\/p>\n<p>\u201cThe Group continues to generate significant international sales growth and momentum in our SaaS business, which is driven by customer demand. This will enable the acceleration of our transition to a subscription licence model whilst maintaining high margins and organic growth.\u201d<\/p>\n<p>Mr Dorks continued: \u201cCurrent trading is in line with market expectations and the acquisitions made in H1 are performing well.<\/p>\n<p>\u201cThe Integrated Risk Management (IRM) market continues to grow and our success in winning new business, together with our levels of recurring revenue and repeat business from our 4,000 strong customer base, provides the Board with confidence in the outlook for this year and beyond.\u201d<\/p>\n<p>Ideagen enjoyed strong momentum in global sales with 162 \u2018new logo\u2019 wins, 121 of which were outside of the UK. The company\u2019s ongoing \u201ccustomer success\u201d focus cemented retention rates at 95% and helped secure multiple new contracts from its existing client base from organisations such as Triumph Group, Sanofi, Pfizer and Thales.<\/p>\n<p>Mr Dorks added: \u201cThe Group has a clear and proven strategy to grow the business organically while continuing to identify and acquire businesses that offer strong synergies in terms of product, customers and geographical reach.<\/p>\n<p>\u201cThe acquisitions made in the period demonstrate the ongoing execution of our acquisition strategy with both InspectionXpert and Morgan Kai consolidating our position in core product markets while providing further footprint in the USA.<\/p>\n<p>\u201cOur markets remain significant and Ideagen is well positioned to deliver on opportunities across our strategic verticals and geographies.\u201d<\/p>\n<p>Ideagen develops software that allows businesses in regulated sectors, such as aviation, aerospace &amp; defence, banking, manufacturing and pharmaceuticals, to meet their safety, compliance, audit and risk requirements. Household names, including the International Airlines Group, owners of British Airways and Iberia among others, Heineken and European Central Bank trust Ideagen to provide them with crucial software solutions.<\/p>\n<p>Read the interim results report in its entirety\u00a0<u><a href=\"https:\/\/eu.vocuspr.com\/Tracking.aspx?Data=HHL%3d%3d4358%26JDG%3c%3b5%3d%2f70%3a%26SDG%3c%3a0%3c2&amp;RE=MO&amp;RI=2407430&amp;Preview=False&amp;DistributionActionID=29398&amp;Action=Follow+Link\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/eu.vocuspr.com\/Tracking.aspx?Data%3DHHL%253d%253d4358%2526JDG%253c%253b5%253d%252f70%253a%2526SDG%253c%253a0%253c2%26RE%3DMO%26RI%3D2407430%26Preview%3DFalse%26DistributionActionID%3D29398%26Action%3DFollow%2BLink&amp;source=gmail&amp;ust=1548234879016000&amp;usg=AFQjCNHYTCD-qRH7C7RtmmjDmccvMaxITg\">here<\/a><\/u>.<\/p>\n<p><a href=\"https:\/\/eu.vocuspr.com\/Tracking.aspx?Data=HHL%3d%3d4358%26JDG%3c%3b5%3d%2f70%3a%26SDG%3c%3a0%3c2&amp;RE=MO&amp;RI=2407430&amp;Preview=False&amp;DistributionActionID=29397&amp;Action=Follow+Link\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/eu.vocuspr.com\/Tracking.aspx?Data%3DHHL%253d%253d4358%2526JDG%253c%253b5%253d%252f70%253a%2526SDG%253c%253a0%253c2%26RE%3DMO%26RI%3D2407430%26Preview%3DFalse%26DistributionActionID%3D29397%26Action%3DFollow%2BLink&amp;source=gmail&amp;ust=1548234879016000&amp;usg=AFQjCNGXjRFV0B8uhSKb48dGoKbZv3TyMg\"><span lang=\"FR\">www.ideagen.com<\/span><\/a><\/p>\n<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div>","protected":false},"excerpt":{"rendered":"<p>The UK-based global software firm unveiled its unaudited interim results today for six months ended 31st\u00a0October 2018 Highlights include; 22% rise in revenues to \u00a321m (\u00a317.2m in 2017) Recurring revenues increased by 30% to \u00a314m Software as a Service (SaaS) bookings increased by 80% to \u00a36.6m Acquisition strategy doubles the size of key quality and<\/p>\n","protected":false},"author":527180,"featured_media":464401,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"translated_post_url_fr":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[12046],"tags":[15762],"class_list":{"0":"post-464400","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-leaders-en","8":"tag-ideagen","9":"post_format-post-format-aside","10":"pmpro-has-access"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.5 (Yoast SEO v27.6) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Ideagen set to celebrate a decade of successive growth - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. 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