Alfa revenues hit £87.8m (€98.5m) over the course of 2017, up 20% from the previous year.

Adjusted for currency exchange rates, the growth was more modest, up 9% to £86.1m, which the company attributed to a weakened dollar.

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Earnings before interest and tax were £41.2m, up 26% (at constant currency rates: £39.6m, up 17%).

Operating profits, adjusted to exclude expenses related to June’s stock float, increased 27% to £41.2m. The push from higher revenues was partly offset by higher salary costs, due to the expansion of the workforce by 22%. Alfa said it will grow its employee base by another 15% to 20% in 2018.

Andrew Denton, Alfa chief executive officer, said: “This has been a significant year for Alfa with the successful delivery of five software implementations and the continued expansion of our customer base.

“Despite the weakening dollar in the last quarter of the year, we have delivered revenue of £87.8m, at the top end of our guidance of underlying high double-digit top line growth and [an] EBIT margin … which we believe is testament to the quality of our product and delivery teams.

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“We have recently executed a global framework agreement with a customer in the equipment finance vertical , which will further our continued aim to diversify our portfolio and to be the leader across all asset finance market verticals and geographies.

“Alfa continues to see a strong and diverse pipeline of opportunities which underpin the Board’s confidence through 2018, with revenue growth weighted to the second half of the year as the full benefit of recent wins is felt.”

The company said it expected mid-to-low double digit growth for the coming year, with a weakened dollar continuing to make its effect felt.

It added that in 2018 it would work on increased modularisation in its flagship Alfa Systems software, and also mentioned that it was in talks for possible application within the internet of things (IoT) space.