(Alliance News) - GlobalData PLC on Tuesday said it had delivered a strong performance for the year ended December 31, ahead of the top end of analysts expectations.
The London-based data, insights, and analytics platform said it is expecting to deliver group revenue of about GBP242 million, up 28% from GBP189.3 million the year prior.
The company said it also expects adjusted earnings before interest, taxes, depreciation, and amortization of around GBP86 million, an increase of 34% from GBP64.4 million in 2021.
GlobalData said it saw strong momentum in booked revenues in the fourth quarter of 2022, as well as bookings growth of 11% in 2022. Revenue visibility for 2023 was about 80% at January 1, the company noted.
GlobalData added that both revenue and adjusted Ebitda are expected to be ahead of analyst expectations of revenue between GBP266 million and GBP276 million and adjusted Ebitda between GBPGBP97 million and GBP101 million.
Chief Executive Officer Mike Danson said: "The last twelve months have clearly demonstrated that GlobalData continues to provide highly valued, critical information and insights across multiple markets to its global customer base through a unique, scalable platform."
"Our confidence is underpinned by high revenue visibility, a stable cost base and excellent cash generation from a platform that delivers value for our customers, our people and shareholders," he added.
The company's full year results will be published on February 27.
GlobalData shares were 9.7% higher trading at 1,300.20 pence per share on Tuesday morning in London.
By Harvey Dorset, Alliance News reporter
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