25th Nov 2022 15:34
(Alliance News) - Catalyst Media Group PLC on Friday said its investee Sports Information Services Ltd, in which it holds a 21% stake, returned to profit in financial 2022 following a return to normal trading conditions after the Covid-19 pandemic abated.
Catalyst Media, a London-based investment firm, said SIS reported a pretax profit of GBP7.0 million in the 12 months ending March 31. This is swung from a loss of GBP7.8 million the year before. It came within the guidance range of GBP6 million to GBP8 million for the full year.
Turnover grew 68% to GBP218.3 million from GBP130.1 million, following the expansion of SIS's online customer base, along with normal trading conditions.
Catalyst Media said it has been informed that SIS has started its new financial year well, and management continues to pursue and win new business opportunities.
The investee has advised Catalyst Media that it expects to close financial 2023 with increased turnover year-on-year, Catalyst said.
Catalyst Media shares were down 5.7% to 108.50 pence on Friday afternoon in London.
By Jaskeet Briah; [email protected]
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