Rosslyn - Breaks Through £6M Annualised Recurring Revenues
Annualised Recurring Revenues Exceed £6MM
With £500k of New Contracts Won, RDT is knocking the ball out the park in terms of contract wins. It signed a raft of blue chip clients in H1’19 - and today announced another 3, worth £500k in total, operating in the International Logistics, Healthcare and Pharma sectors.
In turn, pushing annualised recurring revenues to >£6m or 80% of FY19 sales, (vs £5.05m vs 31st Oct’18), and putting the firm within touching distance of becoming cashflow positive.
CEO Roger Bullen adding “I am delighted that Rosslyn has won more high profile clients in an extremely competitive and demanding process. Our focus on the complex supply chain and procurement data analytics market continues to deliver opportunities and these important wins demonstrate the continued demand for our data services in this growing sector."
What’s more, the stock at 7.3p trades on a frugal 2.0x CY EV/turnover multiple, representing a substantial discount to Big Data peers at 8.4x (see below). Plus going forward, in an environment of escalating trade wars, Brexit, weather related disasters and other geopolitical wobbles, corporate supply chains will need to be increasingly more agile, flexible and efficient. Or in other words, exactly what RDT’s top notch software delivers.