The Bedford-based digital services group Netcall has seen a revenue increase this fiscal year, attributed largely to the growing demand for cloud services. The company, listed on the London stock exchange, reported a revenue of £39.1 million for the year ending June 2024, which is a 9% increase from the previous year. Notably, revenue from cloud services grew by 19%, reaching £19.8 million.
Netcall’s CEO, James Ormondroyd, discussed the recent trends with UKTN: “Organisations are investing into cloud infrastructure to provide that customer service capability so that they can unlock a lot of cost saving.” He also highlighted the challenges posed by a digital skills gap which affects companies eager to implement AI technology.
The financial gains are also evident in the company’s profitability, with a pre-tax profit of £6.3 million, up 58% from last year. In response to these strong results, Netcall has proposed to increase its dividend from 83p to 89p per share, with plans for distribution in February 2025.
Netcall shares responded positively, with a 5% increase to 89.61p at the start of trading on Wednesday. The company, known for its Liberty platform, automates various business operations including managing customer interactions and workflows. Liberty, which predates the release of ChatGPT, incorporates large language models such as Meta’s Llama and supports integration with third-party GPTs.
Netcall’s focus includes working with clients in tightly regulated sectors like government and healthcare. This year, the company enhanced its capabilities through the acquisition of Belgian AI company Parble for €10 million in September and local authority automation specialist Govtech in August.
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