Merseyside software developer beats expectations

Merseyside-based software developer Blue Prism has announced that full-year trading results at are expected to be “comfortably ahead” of existing expectations.

The AIM-listed company, which is headquartered in Newton-le-Willows, said that momentum has continued in the final quarter of its financial year to 31 October 2016.

The positive performance has resulted from strong new business wins in the fourth quarter, significant upsells from existing customers, and continuing gains in traction from its channel partner ecosystem.

The board expects to report trading for the year comfortably ahead of existing expectations, which were upgraded at the time of the interim results announcement on 28 June 2016 and again at the time of the trading update on 5 August 2016.

According to the software developer, the robotic process automation market continues to demonstrate encouraging signs of rapid growth, and the company will continue its investment in sales and marketing in this area into the financial year ending 31 October 2017.

Alastair Bathgate, chief executive of Blue Prism, commented: “We are delighted with the company’s continuing momentum, which resulted in us delivering a record quarter at the end of our 2016 financial year.

“This performance reflects the growing market awareness of the benefits of robotic process automation as well as the success of our strategy to accelerate investment to secure future growth. Our channel partners continue to gain traction and with a strong pipeline we look forward to 2017 with confidence.”