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Ninth growth upgrade and counting at Blue Prism
Another trading update from Blue Prism (PRSM:AIM) and another growth guidance upgrade. That’s the ninth in little more than two years since its IPO brought the stock to AIM at 78p per share. The shares now change hands at £16.32.
‘Blue Prism just can’t stop growing’ is how one software industry analyst sums up the situation.
The robotic process automation solutions ‘poster child’ is seeing growth opportunities emerge at such a pace that forecasters have struggled to keep up.
Investec, Blue Prism’s own broker, has had to rip up forecasts and start again so many times that investors might wonder whether shares in Tippex might have been a similarly good investment.
Following Blue Prism’s latest update on 16 May Investec raised its 2018 and 2019 revenue forecasts by 11% and 17% respectively. That implies revenue will more than double this year to £50m, from last year’s £24.5m. Estimates for 2018 published in January 2017 were looking for revenue of £17.3m, which puts the company’s forecast-busting progress into perspective.