(Alliance News) - TPXimpact Holdings PLC on Monday said that its outlook remains positive into next year and beyond, after seeing revenue increase in the third quarter and the year-to-date.
TPXimpact Holdings is a London-based provider of "digital transformation" services to the UK public sector.
For the three months ended December 31, or the third quarter, the firm said trading had been in line with financial expectations. Revenue for the quarter rose 32% to GBP20.2 million from a year prior, while year-to-date revenue was up 25% to GBP61.8 million.
As at December 31, net debt fell to GBP10.7 million from GBP12.8 million at September 30.
According to TPXimpact Holdings, management is still target revenue for the whole year between GBP80 to GBP85 million. Adjusted earnings before interest, tax, depreciation and amortisation are expected to be between GBP4 and GBP5 million.
Looking ahead to financial 2025, the firm said that it will provide more specific guidance in due course, but "currently has no reason to amend the existing targets" of like-for-like revenue growth of 10% to 15%, and further margin improvement of between 2% and 3% on top of that expected to be achieved in financial 2024.
"Although our budgeting process is still underway, the extent of committed revenues for next year provides a solid foundation for achieving next year's targets as they currently stand, building on our impressive new win rate this year and the successful execution of our strategy and three-year plan. The outlook remains positive, irrespective of the short-term uncertainty that may occur due to a general election, and I am grateful to all our people for their efforts and commitment to our goals and values," said Chief Executive Officer Bjorn Conway.
TPXimpact Holdings shares were trading 4.1% higher at 41.10 pence each in London on Monday morning.
By Holly Beveridge, Alliance News reporter
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Tpximpact Hldg (TPX)