Alfa Financial Software ups full-year revenue view as demand strong

Alfa Financial Software Holdings PLC on Thursday lifted its outlook as it reported demand for its software remains ‘robust’.

Shares in the company rose 4.0% to 201.83 pence each in London on Thursday morning, the best FTSE 250 performer.

The London-based firm provides software to automotive finance providers.

‘The asset and automotive finance markets continue to remain strong with demand for our software remaining robust. Alfa continues to remain well positioned with software projects advancing steadily, customer relationships deepening, new sales closing and promising new opportunities entering our pipeline,’ Alfa Financial said.

revenue in the six months to June 30 fell 1.1% to £52.3 million from £52.9 million a year prior. Pretax profit fell 3.0% on-year to £16.1 million from £16.6 million.

Chief Executive Officer Andrew Denton said: ‘We are pleased with performance during the first half of 2024, with trading in line with expectations and good strategic progress delivered across the business. We continue to invest in Alfa Systems 6 to increase our functional and technical lead over the competition, whilst continuing to deliver reliably for customers and converting and enhancing our order book.’

Alfa Financial declared a 4.2 pence per share special dividend, a rise of 5.0% from 4.0p a year prior.

Alfa Financial said revenue at the start of the second half is ‘tracking ahead of previous expectations’.

‘The board expects full-year revenue to be £1 million ahead of previous expectations,’ Alfa said.

Previously, it predicted mid to high single digit revenue growth for the full year. Revenue in 2023 totalled £102.0 million, a rise of around 9.3%.

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