Crimson Tide PLC – Preliminary Results

Crimson Tide PLC – Preliminary Results

Crimson Tide plc, the provider of the mpro5 solution, is pleased to announce its unaudited preliminary results for the year ended 31 December 2018.  

Financial Highlights

  • Profit Before Tax ahead of market expectations at £69k (2017: £309k) after significant new investments in sales and marketing to accelerate growth potential  
  • Turnover increased to £2.40m (2017: £2.28m) reflecting higher percentage of SaaS contracts 
  • Equipment operating lease debt decreased by over 40% to £376k (2017: £639k) with net funds doubling to £237k (2017: £118k)

Operational Highlights 

  • mpro5’s Internet of Things and Time & Attendance modules maturing and seeing first rollouts, including temperature, humidity lux, motion sensors, NFC, fingerprint, and facial recognition 
  • New solutions sales channel offering data SIM, Mobile Device Management, and managed hardware subscription services 
  • Partner network contributing maiden revenues in Rail sector 
  • NHS contracts expanding

 Barrie Whipp, Executive Chairman of Crimson Tide, commented:  

A year of significant investment in new Sales & Marketing resource, whilst still producing profitability and net cash, sees Crimson Tide well set for growth. mpro5 has evolved into a gold standard mobility system used in over 260,000 sites and is poised for even wider opportunities

About the Company

Crimson Tide plc is the provider of mpro5 – #notjustanapp.  mpro5 is delivered entirely cross platform (Android, IOS, Windows) on smartphones, tablets and PDAs, and enables organisations to transform their business and strengthen their workforce by smart mobile working. mpro5 is a full mobility service hosted in the cloud on Microsoft Azure. The Company’s contracts are provided on a long term, contracted subscription basis and clients can immediately see a return on their investment. 

mpro5 is used in over 260,000 sites in facilities management, healthcare, transportation and logistics.

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