19 January 2016 – trading update
The company expects to deliver trading in line with expectations, which represents strong growth, for the six months ended 31 December 2016. Revenue was up 29% to approximately £12.9m (2015: £10.0m) and monthly recurring revenues from dotmailer’s SaaS based usage was up 35% to £10.0m (2015: £7.4m). Average revenue per client has grown by 31% from £400 to £525 per month. Cash balances at 31 December 2015 were £14.8m. The shares have had a strong run and the valuation now looks full given the weakness in the broad stock market recently. On balance we would now only BUY ON WEAKNESS.