AdvancedAdvt eyes interim revenue, earnings jump as hails efficiencies

(Alliance News) - AdvancedAdvt Ltd on Thursday said it anticipates revenue and adjusted earnings to come in higher in the first financial half, citing continued operational efficiencies, customer growth and successful contract renewals.

The London-based owner of software for business solutions, healthcare compliance, and human capital management businesses that were formerly part of Capita PLC said it expects to report revenue of at least GBP25 million in the six months to August 31, up 26% compared to revenue from continuing operations of GBP19.9 million a year ago.

Adjusted earnings before interest, tax, depreciation and amortisation is expected at least at GBP7 million, which would be 75% higher from GBP4.0 million a year prior. This was "driven by continued operational efficiencies, customer growth, and successful contract renewals."

Further, it said that cost savings were "tracking well."

AdvancedAdvt added that trading remains in line with its own expectations.

The company expects to publish half year results later this month.

AdvancedAdvt Executive Chair Vin Murria said: "We are pleased with the group's performance in the first half of the year, particularly against a backdrop of tariff uncertainty and local government devolution. The completion of two strategic acquisitions, GOSS and HFX, marks a further step forward, and it's great to welcome both teams into the group. Our results reflect the mission-critical nature of our solutions and the continued progress we're making in operational performance and improvement.

"Over the longer term we continue to see opportunities for organic growth, particularly with artificial intelligence, automation and software-as-a-service offerings, we remain committed to exploring acquisition opportunities to expand the group."

AdvancedAdvt shares rose 4.4% to 193.15 pence each on Thursday around noon in London.

By Tom Budszus, Alliance News slot editor

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