High Growth Tech Stocks In The United Kingdom To Watch This September 2024

The United Kingdom’s FTSE 100 index recently experienced a downturn, closing 0.4% lower at 7,527.42 due to weak trade data from China, highlighting the ongoing struggles of the global economy post-pandemic. Amid these broader market challenges, identifying high-growth tech stocks becomes crucial for investors seeking opportunities in sectors less impacted by international trade fluctuations and more driven by innovation and domestic demand.

Top 10 High Growth Tech Companies In The United Kingdom

Click here to see the full list of 46 stocks from our UK High Growth Tech and AI Stocks screener.

We’ll examine a selection from our screener results.

Simply Wall St Growth Rating: ★★★★☆☆

Overview: IDOX plc, through its subsidiaries, provides software and services for the management of local government and other organizations in the United Kingdom, the United States, rest of Europe, and internationally with a market cap of £280.03 million.

Operations: IDOX generates revenue primarily from three segments: Land Property & Public Protection (£50.91 million), Communities (£14.99 million), and Assets (£14.75 million). The company’s market cap stands at £280.03 million, reflecting its significant presence in the software and services sector for local governments and other organizations globally.

Software firms are increasingly moving to SaaS models, ensuring recurring revenue from subscriptions. IDOX, with its forecasted 7.4% annual revenue growth outpacing the UK market’s 3.8%, exemplifies this trend. The company’s R&D expenses of £12M last year underscore its commitment to innovation, contributing to an expected 23.9% annual earnings growth over the next three years. Recent executive changes, including Mark Milner’s appointment as Non-Executive Director, bolster strategic leadership and future prospects in B2B and B2C segments.

Simply Wall St Growth Rating: ★★★★☆☆

Overview: M&C Saatchi plc offers advertising and marketing communications services across various regions including the United Kingdom, Europe, the Middle East, Africa, the Asia Pacific, and the Americas with a market cap of £234.12 million.

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Operations: M&C Saatchi plc generates revenue from providing advertising and marketing communications services across multiple global regions. The company focuses on delivering creative solutions for brand development, digital marketing, and media planning.

M&C Saatchi is navigating a challenging landscape with forecasted annual revenue decline of -14.2% over the next three years, yet it anticipates an impressive 43.75% annual earnings growth during the same period. The company has invested heavily in innovation, with R&D expenses reaching £10M last year, indicating a strong focus on developing cutting-edge solutions for its clients. Recent executive changes, including Simon Fuller’s appointment as CFO, aim to bolster strategic leadership and drive future profitability in B2B and B2C segments.

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Oxford Biomedica plc, a contract development and manufacturing organization, focuses on delivering therapies to patients worldwide with a market cap of £359.21 million.

Operations: Oxford Biomedica generates revenue primarily from its Platform segment (£89.41 million) and a smaller portion from Product sales (£0.13 million).

Oxford Biomedica anticipates a 19.9% annual revenue growth, significantly outpacing the UK market’s 3.8%. The company’s earnings are forecast to grow by an impressive 99.5% per year, driven by robust R&D investments and strategic leadership changes, including Lucinda Crabtree as CFO. With £50 million in revenue expected for H1 2024 and full-year guidance between £126 million to £134 million, the firm is poised for substantial advancements in gene therapy solutions.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include AIM:IDOX AIM:SAA and LSE:OXB.

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