17th Oct 2022 12:33
(Alliance News) - CentralNic Group PLC on Monday said it expects revenue and adjusted earnings to grow in 2022, weathering macroeconomic challenges.
In the nine months to September 30, the London-based online services provider expects revenue of about USD525 million, up from USD282.0 million a year ago.
Further, it anticipates nine-month adjusted earnings before interest, tax, depreciation and amortisation of at least USD61 million, jumping 89% from USD32.3 million.
CentralNic shares rose 5.9% to 127.04 pence each in London on Monday afternoon.
Year-on-year organic growth for trailing 12 months ended September 30 is set to be about 66%, surging from a 29% growth between September 2020 and September 2021. The firm said that as of September 30, its cash was at USD83 million, a 48% increase from USD56 million at December 31, 2021.
For 2022, the company expects annual outturn to exceed analyst consensus of USD626.6 million. "While the directors remain cognisant of the current global macro-economic environment, they now have confidence that the group will materially exceed the current market expectations for the full year," the firm said.
The firm will release its nine-month results on November 22.
By Tom Budszus; [email protected]
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