Proptech company Essensys posted a rise in revenue during the past year, as chief executive Mark Furness said the business had shown its resilience in the face of the coronavirus crisis – and is now planning for further international expansion.
In a trading update ahead of its full-year results, the company, which makes software used by operators of co-working and flexible office space, said it expected to post revenue of £22.4m for the year to 30 June, up 9% from £20.6m a year ago.
Recurring revenue from the company’s growing US business was up by 43% to £8m, and the company said it was bringing on board new customers despite the challenges of the pandemic.
The company expects to launch divisions covering Europe and Asia during the coming months.
“Our performance in FY20 underlines the resilience of our business model and the long-term nature of our underlying growth drivers,” Furness said.
“This reflects two key factors: the continuation of supportive long-term industry trends, with the expansion of our customer base and new customer sites, and the accelerated migration of traditional real estate operators into the flexible workspace market.”
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