AdvancedAdvT set to end year ahead of expectations

(Sharecast News) - AdvancedAdvT said in an update on Thursday that full-year trading for the period ending 28 February was expected to be materially ahead of market expectations, driven by strong customer growth and improved contract renewals. The AIM-traded software solutions provider highlighted sustained recurring revenue growth and operational efficiencies as key factors behind its outperformance.

It said it had built on the momentum from its interim results in November, benefiting from both new business wins and the renewal of substantial contracts on improved terms.

The company said it would provide further details when it publishes its audited full-year results in July.

"Our strong performance reflects the operational changes implemented in the first half of the year and the positive impact of key customer contract wins," said chair Vin Murria.

"These factors provide a solid foundation for continued growth.

"We remain focused on delivering long-term value for our shareholders and continue to pursue further merger and acquisition targets."

At 1131 GMT, shares in AdvancedAdvT were up 10.95% at 160.88p.

Reporting by Josh White for Sharecast.com.