For the financial year ending March 31, 2014, Lombard Risk Management saw revenues increase by 22% to £20.4 million, up from £16.8 million the year prior.
Most of the revenue came during the second half of the fiscal year, accounting for £13.1 million, compared to £9.0 million in the same period a year earlier.
Lombard’s EBITDA and profit before tax also saw gains from the prior year of £0.7 million and £0.5 million respectively. The firm’s net cash at the end of the period measuerd £2.3 million, up from £0.2million the year before.
“We have now achieved compound revenue growth in the last four years of almost 23% p.a. and it is pleasing to have beaten market expectations on both revenue and profitability,” says John Wisbey, Lombard’s chief executive officer. “We have entered the new financial year with recurrent revenues at another all-time high of around £8.6m, our highest ever year end level of order book at £5.2m, and with a good sales pipeline.”
Wisbey notes that there is continually new regulation in Europe, and the firm’s new product, Compliance Assessor, “looks like a potential source of very useful new revenue,” which means that Lombard has a favorable commercial outlook.
Lombard Sees Large Revenue Gains
For the financial year ending March 31, 2014, Lombard Risk Management saw revenues increase by 22% to £20.4 million, up from £16.8 million the year prior.