(Alliance News) - TPXimpact Holdings PLC said Wednesday that it is "confident" that it will meet recently upgraded revenue expectations for the full year following a strong second half.
The London-based technology company expects full year revenue in excess of GBP77 million, up from GBP51.1 million the previous year due to its recent performance which saw its pretax profit and revenue surge.
For the six months ended 30 September, the company reported that its pretax profit had swung to GBP559,000 from a loss of GBP1.6 million in the same period the previous year.
The company's revenue also leapt, rising 76% to GBP37 million from GBP21 million in the prior year.
Adjusted earnings before interest, tax, depreciation and amortisation rose to GBP5.3 million, up 83% from GBP2.9 million in the same period in the previous year.
TPXimpact said its positive growth was largely been driven by its ability to win and deliver larger scale programmes of work due to its wider service offering.
The company also cited deals worth a total of GBP3 million and the acquisitions of the Bristol-based digital agency Nudge in June 2021 for its second half success.
An interim dividend of 0.3 pence per share was declared, up by a third from 0.2p last year.
Chief Executive Neal Gandhi said: "I'm delighted to report on another period of very strong growth for TPXimpact, in which we have continued to deliver impactful digital change to organisations across the public, not-for-profit and commercial sectors. As a reflection of the considerable operational progress and reputational growth we have achieved, we report significant organic, like-for-like growth versus the equivalent period last year as we take on larger, more impactful projects across our markets.
"We remain focused on executing our strategy in line with our 2025 commercial vision of delivering 10-15% organic revenue growth per annum and GBP200 million run rate revenue by March 2025. We are confident of delivering significant further growth into H2 and beyond, in line with our recently upgraded expectations."
Shares were up 2.9% at 270.00 pence on Wednesday afternoon in London.
By Heather Rydings; heatherrydings@alliancenews.com
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Tpximpact Hldg (TPX)