25th Feb 2019 12:03
LONDON (Alliance News) - Market research company GlobalData PLC on Monday reported a widened pretax loss for 2018 due to amortisation charges, despite double digit revenue growth.
For the year, GlobalData's pretax loss widened to GBP7.7 million from GBP795,000 the year before, as the company incurred a GBP20.4 million non-cash charge on the amortisation of acquired intangibles, reflecting GlobalData's M&A activity over recent years.
On an adjusted basis, pretax profit rose by 47% from GBP27.8 million from GBP19.0 million.
Revenue for 2018 increased by 33% to GBP157.6 million from GBP118.6 million the prior year, reflecting the benefit of acquisitions made during the period including Research Views Ltd in March and MEED FZ LLC, agreed in December 2017. Underlying organic growth was 9%.
Invoiced forward revenue, formerly called deferred revenue, also jumped 33% to GBP81.4 million from GBP60.6 million the year before.
GlobalData declared a final dividend of 7.5 pence per share, bringing the total payout to 11.0p, up 38% from 8.0p the prior year.
Looking ahead, the company said it has entered 2019 with "good fundamentals", including strong invoiced forward revenue and a visible renewal base.
"GlobalData is positioned to help thousands of companies, organisations and industry professionals across the world's largest industries profit from faster, more informed decisions. Within each industry sector our proprietary data, human insight, and innovative technologies create trusted, actionable, and forward-looking intelligence," said Executive Chairman Bernard Cragg.
"With comprehensive coverage, we can access multiple selling points within a client and around the world. This means that our ambitions are not constrained by demand," Cragg added.
Shares in GlobalData were up 5.1% at 620.00 pence on Monday.
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