Source - SMW
FreeAgent's   revenue increased by 41% to £8.0m  in the year to the end of March with gross profit up by 38% at £6.6m.

The provider of cloud-based software-as-a-service accounting software solutions and mobile applications designed specifically for UK micro-businesses reported a net loss of £2.9m, including share-based payment expense of £0.8m, as the group continued to invest in scaling its business (2016: £1.3m).

The group said adjusted losses before interest, tax, depreciation and amortisation of £0.7m - up from £0.2m last time - reflected planned investments in customer acquisition, particularly in the practice channel.

Chief executive Ed Molyneux said:"2017 was a very good year for FreeAgent.  

"The successful IPO and continued progress against our strategy have delivered financial metrics that are in line with or exceeding market expectations. 

 "Demand for FreeAgent is robust and the environment for micro-businesses in the UK remains attractive.  

"The group continues to deliver against its stated strategy and the board expects further positive progress to be made in 2018."  




At 8:04am: (LON:FREE) FreeAgent Holdings Plc share price was +8p at 121p