AGM Trading update

RNS Number : 6496X

GetBusy PLC

01 May 2019

 

1 May 2019

GetBusy plc

AGM Trading update

GetBusy plc (AIM: GETB) ("GetBusy" or "the Company"), a leading developer of document management and productivity software products, is pleased to provide an update on trading ahead of today's AGM, to be held at 11am at the offices of Grant Thornton, 30 Finsbury Square, London, EC2P 2YU.

Performance in the first quarter of the current financial year has been in line with the Board's expectations and our expectations for the full year remain unchanged.  Each part of the business is performing well. 

We have increased our investment in UK sales and marketing capabilities for our cloud-based SmartVault product and we continue to build brand presence and a base of subscription customers in the smaller accounting and bookkeeping market.  The migration to the Amazon Web Services environment, which significantly improves the scalability, security and stability of the product, is now complete and the platform performed well during the recent peak US tax season.

For Virtual Cabinet, we have recently launched a mobile app which offers a cloud-like experience for users and delivers significant additional value into the existing customer base, making much of the functionality available to remote workers without the need for conventional VPN connections.

We have continued to invest in beta user acquisition for our GetBusy product and have been pleased with the results so far.  We have now reached the important milestone of having active customers (albeit currently on non-paying plans) from whom we can understand precisely how the product is delivering tangible value to business communication and workflows.  The technology stack we have built around GetBusy provides us with valuable insight into the user journey and detailed data from which we are iterating the product and value proposition.   

ENDS

GetBusy plc

Daniel Rabie (Chief Executive Officer)                                  [phone]

Paul Haworth (Chief Financial Officer)                                  [phone]

Grant Thornton UK LLP (Nomad)

Philip Secrett / Jamie Barklem / Seamus Fricker                 [phone]

Liberum Capital Limited (Broker)

Bidhi Bhoma / Cameron Duncan                                            [phone]

Walbrook PR (UK PR & IR adviser)

Paul Cornelius / Nick Rome / Sam Allen                                [phone]

[e-mail]

About GetBusy

GetBusy is a global Document Management, productivity and communication software business that provides highly secure forms of digital document distribution, workflows and client chat. Over 1.2 million users are now registered to share information through GetBusy's award-winning online client portals.

Further information on the Group is available at www.getbusy.com/about/investors.

 

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