Blue Prism sees net new bookings decline in second half

Automation technology company Blue Prism said in a trading update on Tuesday that total bookings including renewals were expected to be around £221m for its financial year just ended, rising from £180m last year.

The AIM-traded firm said net new bookings were expected to be about £114m for the 12 months ended 31 October, compared to £122m last year, making for a 3% decline on a constant currency basis.

For the second half, net new bookings declined by 16%, or 13% on a constant currency basis, year-on-year.

The company said the exit rate of annualised recurring revenue was expected to be about £179m, representing 17% annual growth, or 20% on a constant currency basis.

“Blue Prism continues to expect revenues to be around £167m and an EBITDA loss of between £14m to £19m, as originally communicated on 28 September,” the board said in its statement.

At 1009 GMT, shares in Blue Prism Group were down 0.35% at 1,130p.