Acuity RM Group Plc Year end Update

 
TIDMACRM 
 
This announcement contains inside information for the purposes of Article 7 of 
the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue 
of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the 
publication of this announcement via a Regulatory Information Service, this 
inside information is now considered to be in the public domain. 
 
Acuity RM Group plc 
 
("Group") 
 
Year end Update and Contract win 
 
Acuity RM Group plc (AIM: ACRM), the software group, which supplies the award 
-winning STREAM? software platform for the Governance, Risk and Compliance 
("GRC") market, together with associated consultancy services, provides the 
following update on trading for its year ended 31 December 2023.  (All figures 
are unaudited.) 
 
YEAR END UPDATE 
 
In the nine months since April 2023 when the Group acquired Acuity Risk 
Management Limited ("Acuity"), Acuity has achieved its highest order intake, 
record revenues and won its largest ever contract.  Further, KPI measures remain 
strong with indications of accelerating growth into 2024. 
 
  · Revenues for Acuity in the nine months trading since April 2023 to 31 
December 2023 are expected to be c£1.4m (revenue for the 12 months ended 31 
March 2023 £1.75). 
  · At 31 December 2023 total cash together with cash receipts from debtors 
expected in January 2024 amounted to £1.2m.  As at 12 January 2024 the bank 
balance was £901,000. 
 
  · Sales orders received up 44% to £1.6m (valued at first 12 months revenue) 
from 1 April 23 to 31 December 2023 (£1.1m in the same period 2022). 
  · Forward contracted revenue as at 31 December 2023 was £2.9m (£2.2m as at 28 
February 2023). 
  · Contract renewals achieved 85% in 2023 (31 March 2023 96%). 
  · Largest ever contract worth £561,000 was won in the period, as announced on 
12 December 2023 
  · The pipeline of sales prospects has increased to £7.9m as at 31 December 
2023 from £4.2m in March 2023 with £1.4m from partners at 31 December 2023 
(2022: £800,000). 
 
The Board is pleased with the development of Acuity partnerships network during 
the period. As well as working with established partners, Acuity is delighted to 
have appointed new partners in 2023 including; Claritas, Logicalis, Nettitude, 
Security Executive Council - US and Sopra Steria. 
 
Activity with partners has increased in 2023; three new clients were won as a 
result of working with new partners, and the pipeline of potential sales with 
partners amounted to £1.4m at 31 December 2023. 
 
CONTRACT WIN 
 
Since the Company's last update on 12 December 2023 and prior to the year end, 
Acuity secured another contract worth a total of £105,000 with a Turkey based 
travel company which is implementing STREAM? on a two year contract with an 
option to extend for a third year. 
 
Angus Forrest, Executive Chairman, commented; "The nine months of trading from 1 
April 2023 to 31 December 2023 shows real progress and the indications are that 
the pace of expansion is increasing.  There is much to do but the opportunity is 
large and I expect further significant progress in 2024." 
 
For further 
information please 
contact: 
Acuity RM Group plc  https://www.acuityrmgroup.com 
Angus Forrest        [phone] 
WH Ireland (NOMAD &  https://www.whirelandplc.com/capital-markets 
Broker) 
Mike Coe / Sarah     [phone] 
Mather 
Peterhouse Capital 
(Joint broker) 
Lucy Williams /      [phone] 
Duncan Vasey 
Clear Capital 
(Joint broker) 
Bob Roberts          [phone] 
 
Note to Editors 
 
Acuity RM Group plc 
 
Acuity RM Group plc (AIM: ACRM), is an established provider of risk management 
services. Its award-winning STREAM® software platform collects data about 
organisations to improve business decisions and management. It is used by around 
70 organisations in markets including government, utilities, defence, 
broadcasting, manufacturing and healthcare. 
 
The Company is focused on delivering long term, sustainable growth in 
shareholder value. In the short to medium term this is expected to come from 
organic growth and thereafter may also come from complementary acquisitions. 
 
 
This information was brought to you by Cision http://news.cision.com 
https://news.cision.com/acuity-rm-group-plc/r/year-end-update,c3910637 
 
 
END 
 
 

(END) Dow Jones Newswires

January 17, 2024 02:00 ET (07:00 GMT)