Major contract wins in the financial services and energy sectors helped Dundee app developer Waracle increase its revenue by 68% last year.
Newly filed accounts at Companies House shows the Bash Street tech firm recorded sales of £6.29 million for the year ending on December 31.
The company’s pre-tax profit increased by 30% to £780,000 last year.
Chief executive Chris Martin said: “2017 was a very positive year for Waracle’s growth in digital products across mobile, web, voice and internet of things (IoT).
“The team has grown in all areas of the business in line with major customer wins, particularly in the fintech and energy sectors.
“Waracle’s team have all been involved in making the company one of Europe’s leading digital products companies and we are proud to be creating these opportunities from Scotland.”
Average staffing numbers grew from 24 to 42 last year as the firm benefitted from strong demand for its services.
In the strategic report in the company accounts, chairman Martin Burke said the firm expected strong demand to continue this year.
He said: “The business has a strong sales pipeline and we expect demand for Waracle’s services to continue to accelerate through 2018 as organisations increasingly invest in digital transformation initiatives.
“The outlook for digital product services across mobile, web and voice remains strong as organisations look to digitise large portions of their application portfolio to expand customer relationships, reduce costs and drive competitiveness.
“There is also increasing cross-sector demand for industrial scale IoT solutions, which we believe represents a significant growth opportunity for the business.
“In order to meet anticipated growth in these areas, we are extending our services portfolio to include a richer set of digital product design and development services and an enhanced set of IoT delivery services.
“We will continue to invest in all areas of the business in 2018 and have plans to extend out sales, marketing and delivery capabilities in order to generate new business opportunities throughout the UK and Europe and to meet the increasing demand for Waracle’s services.
“The planned investments will ensure we remain at the forefront of the digital industry, whilst also maintaining our reputation for innovation and excellence in everything that we do.”
Waracle is owned by the Exception Group and holds stakes in augmented reality firm Mozenix and blockchain company Wallet Services.
rmclaren@thecourier.co.uk