Norwegian MSP Crayon has had a gross profit growth of 31 per cent in its first quarter thanks to high demand for software and cloud services.
Crayon CEO Melissa Mulholland said while the global tech market continued to be impacted by the challenging macroeconomic climate, the company’s core business model helped its resiliency.
Adjusted EBITDA increased 50 per cent to £13.5 million, reflecting a margin of 14.7 per cent.
Operating profit increased to £4 million from £3.4m in the same quarter of the previous year.
“We see a strong demand for optimisation and innovation across all our markets, and our customer centricity ensures we can deliver on those demands,” Mulholland said.
Across Europe, YOY gross profit growth increased by 53 per cent, for the Nordics it was 26 per cent, the US was up by 25 per cent and Asia Pacific, the Middle East and Africa was 21 per cent.
