Arcontech (LSE:ARC) reported an 11.5% decline in annual revenue to £2.75 million, reflecting the loss of a long-standing customer and lower one-off sales during the period.
Pre-tax profit decreased 10.7% to £881,170. Recurring revenue accounted for 99% of total sales, while the company’s net cash position increased to £7.52 million.
Arcontech maintained its dividend at 4.0 pence per share.
European Customer Wins
During the financial year, Arcontech secured a new major European bank as a customer. The company also added another European customer following the end of the reporting period.
Arcontech said its sales pipeline has expanded and includes opportunities for longer-term contracts.
Product Suite Expanded
The company continued development of its market data software, including a central bank contribution system and an entitlement platform designed to help customers manage data usage across different vendors.
Management said rising market data costs and demand for alternatives to vendor-specific infrastructure are contributing to opportunities for its products, although the extent to which these opportunities result in new contracts remains dependent on customer decisions.
Arcontech Group is a UK-based provider of software and services used to manage real-time financial market data. Its customers include banks and other financial institutions, with its products focused on vendor-agnostic market data management and subscription-based services.
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