23rd Sep 2024 15:47
(Alliance News) - Elixirr International PLC on Monday said it remains "confident" for its full-year results, following increases in revenue and profit in the first half of 2024.
The London-based business consultancy said revenue for the six months to June 30 was GBP53.0 million, up 27% on-year from GBP41.6 million. Pretax profit grew 21% to GBP12.0 million from GBP9.9 million.
Cost of sales rose 31% to GBP35.7 million from GBP27.3 million.
Chief Executive Officer Stephen Newton said: "Alongside our exceptional results, I am delighted that earlier this year the first tranche of pre-[initial public offering] options became exercisable for some of our team, which we satisfied through the [employee benefit trust] rather than diluting our shareholders. They are the first group of employees to realise the benefit of our collective work in profitably growing the firm over the last four years. Shared ownership is key to Elixirr's entrepreneurial culture, and I am particularly delighted by this milestone.
"Additionally, for the first time, Elixirr has recently been recognised on the world's best management consulting firms 2024 list by Forbes. This is based on our performance within 13 industries, including healthcare, banking and technology, as well as 14 functional consulting areas such as strategy and digital transformation. Such recognition further validates our progress so far and reinforces that Elixirr is firmly on the journey to becoming the best consulting firm in the world. We expect this strong performance to continue for the rest of the year."
The company said it expects to report full-year revenue between GBP104 million and GBP110 million, with a full-year earnings before interest, taxation, depreciation and amortisation margin within the 27% to 29% guidance range.
In 2023, Elixirr reported revenue of GBP85.9 million, with an adjusted Ebitda margin of 30%.
Shares in Elixirr were up 2.4% at 645.00 pence each in London on Monday afternoon.
By Emily Parsons, Alliance News reporter
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