Made Tech shares climbed 7% to 34.8p in late morning trading on Friday after the firm announced a 120% spike in revenue to £29.3 million against £13.3 million in its trading update for FY 2022.
The company reported an adjusted EBITDA surge of 618% to £2.6 million from a loss of £500,000 the last year, alongside a gross profit margin maintained at 38% year-on-year.
Made Tech confirmed sales bookings rising 115% to a total of £51.1 million against £23.8 million over the financial period.
The company highlighted strong organic growth and a slew of new contracts, including government deals such as its first major two-year contract with NHS Digital at a value of £19 million.
The group said it was well-positioned to capitalise on the growing digital transformation market, with a robust pipeline and record sales bookings for the year going forward.
“FY22 was a very significant year for Made Tech, one in which we delivered exceptionally high levels of organic growth,” said Made Tech CEO Rory MacDonald.
“We navigated the well-documented macro recruitment challenges to double our headcount year on year and maintain our gross margin.”
“We have made a strong start to FY23 and look forward to updating our stakeholders on the Group’s progress, when we announce the FY22 results in September.”
