Posted on December 20, 2018 by staff

Half-year revenues pass £10m at The Panoply


Tech services group The Panoply has posted its first set of results since floating on the London Stock Exchange.

The acquisitive company has posted revenue of £10.1 million for the six months to 30 September 2018, an increase of 48 per cent from £6.9 million a year earlier.

Adjusted pre-tax profits soared by 54 per cent to £1.8 million.

The Panoply enjoyed “significant growth” with 90 customers billed in the six-month period.

“4 December 2018 was a seminal moment for The Panoply as we achieved our goal of listing on AIM,” said co-founder and CEO Neal Gandhi.

He added: “We are pleased to have seen the number of customers we work with continue to grow, a strong leading indicator.

“Alongside this, a large proportion of our customers billed in the six months to 30 September 2018 we have also worked with for the previous two years, demonstrating client longevity.

“All three of the sectors we work with, commercial, Government and NGOs, have grown, driven by our outcomes-based agile approach.

The Panoply has this week announced its acquisition of London-based digital agency Deeson just weeks after its IPO.