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TPXimpact Holdings PLC - London-based IT consulting firm - Posts revenue of GBP83.7 million for year ended on March 31, up 5.0% from GBP79.7 million the year before. However, swings to a pretax loss of GBP20.5 million from a profit of GBP2.5 million, as operating loss totals GBP20.9 million, compared to an operating profit of GBP3.2 million the year before. Incurs a pretax loss from total operations of GBP19.0 million for the year, compared to a profit of GBP1.8 million in the previous year. Administrative expenses increase to GBP40.8 million from GBP21.7 million the year before.
Chief Executive Officer Bjorn Conway says: "After a challenging year, TPXimpact has developed a clear strategy and a comprehensive three-year plan to leverage its strong foundations of successful client delivery and new business wins. The start of FY23 marked the initiation of an internal change program aimed at achieving robust top-line growth in the medium to long term, through the consolidation of component businesses under a unified brand."
Looking ahead, the firm says trading in the first two months of the new year is in line with expectations, with like-for-like revenue growth of over 5%. Backs financial 2024 outlook with like-for-like revenue growth of 15% to 20%, and adjusted earnings before interest, tax, depreciation and amortisation margins of 5% to 6%.
Current stock price: 34.00 pence each, down 5.6% on Thursday afternoon in London
12-month change: down 76%
By Xindi Wei, Alliance News reporter
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