‘2024 was a landmark year’ – Computime Chairman and CEO on going public and registering five years of record profits

Computime Holdings plc has just published its Annual Report and Financial Statements for the year ended 31st December 2024. This marks the first time the company has reported as a publicly listed company, following its admission to listing on the Official List of the Malta Stock Exchange on 6th January, 2025.

“2024 has been a landmark year for Computime Holdings plc, marked by significant milestones – from launching our share offer and navigating the rigorous IPO process to announcing a leadership transition, and ultimately, listing on the Malta Stock Exchange on 6th January, 2025” said CEO Alistair Mangion.

“What makes this achievement even more remarkable is that, despite the not insignificant demands of the IPO process, we remained focused on performance, delivering our fifth consecutive record year in profitability,” he added.

The company and its subsidiaries reported €18.9 million in consolidated revenue and a 13 per cent increase over 2023, in consolidated profit before tax to €2.5 million.

Importantly, profit before tax exceeded the forecast published on 31st October 2024 prospectus by 4 per cent.

CEO Alistair Mangion noted: “Growth was driven by all three business divisions, each delivering double-digit profit growth. Our strategy prioritises value over volume, ensuring that margin expansion takes precedence over pure revenue growth.”

In terms of dividend policy, the CEO said that “given our strong financial performance, our ability to achieve profit forecasts, and our confidence in future growth, the board is recommending an increase in the final dividend for 2024 to €480,000 as against the €410,000 initially forecasted in 31st October 2024 prospectus.”

According to the annual report and the associated company announcement, this dividend will be paid on or around 17th June 2025, if approved by the shareholders of the company at the annual general meeting scheduled to be held on 12th June 2025.

Chairman Anthony Mahoney remarked: “These results confirm the strength of the company’s business model, the dedication of our employees, and our ability to execute on strategic priorities. Our recurring revenue, robust operating margins, and strong cash flow generation give us the stability to continue investing in innovation and growth.”

Outlook for 2025 and strategic priorities

The annual report states that, as at present, based on the group’s performance in the opening months of the year and a promising sales pipeline, the company’s directors expect Computime Group’s results for 2025, to be in line with the projections presented in the October 2024 prospectus.

In closing, CEO Mangion said: “Looking ahead, we will continue to focus on key areas that we believe will define the future of our industry – artificial intelligence (AI), cyber security, and managed services. These priorities are expected to help us deliver sustainable growth and long-term value.”

Chairman Anthony Mahoney added, “As we look to the future, we are very confident in our strategic direction and ability to deliver sustained growth. We are excited about the opportunities ahead and are deeply grateful for the trust and support of our shareholders, employees, and customers. Together, we will continue to drive innovation, create value, and reinforce our position as a leader in the IT sector.”