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27 Apr 2023 07:00
27 April 2023
4GLOBAL PLC
("4GLOBAL", the "Group" or the "Company")
Trading Update
4GLOBAL, a UK-based data, services and software company, is pleased to announce a trading update for the year ended 31 March 2023.
The Board is pleased to announce that, subject to the Group's audit, revenue generation in the second half of the financial year has been strong with the Group expecting to report revenues of approximately £5.6m. The Adjusted EBITDA1 is in line with market expectations2.
As previously reported, the Group's revenue generation profile has been weighted to the second half of the financial year. While both Services and Technology divisions both performed in the year being reported, the Directors are specifically pleased to report Technology revenues continue to grow as the Company continues to focus on increasing its recurring revenue as a percentage of total revenue.
The Group had cash balances of £1.1m, Accounts Receivable and Accrued Income totalled £3.4m as at 31 March 2023.
For further information please contact:
4GLOBAL Eloy Mazon (CEO) | c/o IFC Advisory |
Spark Advisory Partners - Nominated Adviser Neil Baldwin |
0203 368 3554 |
Canaccord Genuity Limited - Broker Bobbie Hilliam |
020 7523 8000 |
IFC Advisory Graham Herring / Zach Cohen |
0203 934 6630
|
This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) 596/2014 as amended by regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310.Upon the publication of this announcement, this inside information is now considered to be in the public domain.
Note 1: Adjusted EBITDA is defined as statutory profit from operations before interest, taxation, depreciation, share based payment expense and exceptional items.
Note 2: Market expectation is defined as adjusted EBITDA for the year to 31 March 2023 of approximately £0.9m as set out in the broker report that follows 4GLOBAL as at 26 April 2023.
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