Aferian plc, the B2B video streaming solutions company anchored in Cambridge, has recorded double digit revenue and profit growth in the year ended November 30.
CEO Donald McGarva said the company had entered 2022 “in a strong position both financially and operationally.”
Revenue was up 12 per cent to $92.9 million and McGarva cited improved quality of earnings and enhanced revenue visibility. Adjusted operating profit before tax was 21 per cent ahead on the prior year to $4.7m.
The final dividend has been increased from 1.87p per share the previous year to 2.09p per share this time in a further show of confidence in the future of the business.
McGarva said: “I am proud of the strong performance we’ve achieved in our first full year of executing and innovating against our 2025 strategy. We have delivered double digit growth across the majority of our key performance metrics and significantly improved our quality of earnings and revenue visibility with an exit run rate ARR up 43 per cent on the previous year.
“This strong performance was delivered thanks to the incredible teamwork, resilience and hard work of our people and despite ongoing uncertainty brought on by the pandemic and global supply chain issues.
“We enter 2022 in a strong position both financially and operationally. Aferian sits at the centre of the converging worlds of streaming services and traditional Pay TV.
“This convergence excites our customers, engages viewers and energises our product teams as we continue to innovate new ways to make it easy for people to connect to TV and video when and how they want.”
A strong balance sheet has been maintained with a strengthened cash position and a new banking facility of up to $100 million to support Aferian’s targeted M & A strategy.
Through a strong portfolio of subsidiaries Aferian achieved strategically important deployments of its technology through the year. For example, 24i’s streaming platform for new customers included the Canadian Hockey League and Cinessance, a subscription video on demand service, which launched last November as the ‘Netflix of French Film.’
There were multiple new deployments of Amino’s Android TV platform including at Go Malta and CableNet in Europe, Optage in APAC and Conway, Home Telecom and Hay Communications in North America.
The period also saw the successful integration of Danish streaming and Pay TV platform specialist, Nordija (now part of 24i), immediately adding $2.1m ARR upon acquisition.