Proptech firm Essensys saw revenue rise by a fifth over the six months to the end of January, but has warned that the effect of the coronavirus on its business will “undoubtedly” grow.
The firm, which sells software to flexible and serviced office operators, delayed its interim results on the guidance of the Financial Conduct Authority, but issued a market and trading update.
Over the six months to January 31, revenue rose by 19% year-on-year to £11.4m. Pretax profit was down by two-thirds at £200,000.
Chief executive Mark Furness said the second half has started well for the company.
“While we have seen only limited direct impact of Covid-19 on the business to date, there will undoubtedly be more; and we are focused on preparing for and minimising that impact where possible,” he added.
“Our sales pipeline includes a number of significant future opportunities; this and the high proportion of contracted recurring revenues underpins the board’s confidence in the long-term growth opportunity ahead, in spite of near-term macroeconomic uncertainty.”
To send feedback, e-mail tim.burke@egi.co.uk or tweet @_tim_burke or @estatesgazette
