27th Feb 2023 11:07
(Alliance News) - GlobalData PLC on Monday said its profit and revenue rose across 2022, significantly raising its total dividend as a result, while it believes it has entered 2023 from a position of strength and expects further growth.
The London-based data, insights and analytics platform said pretax profit in 2022 was GBP38.4 million, up 18% from GBP32.6 million a year earlier.
This was in line with revenue increasing 28% to GBP243.2 million from GBP189.3 million in 2021, offset by widening operating expenses to GBP186.6 million from GBP150.8 million and multiplying net finance costs to GBP17.6 million from GBP5.6 million.
As a result of improving performance, GlobalData upped its total dividend for the year by 35%, rising to 26.0 pence per share from 19.3p in 2021.
Shares in GlobalData were down 3.6% to 1,190.0 pence each in London on Monday morning.
Meanwhile, net bank debt at December 31 widened by 41% to GBP249.6 million from GBP177.6 million a year earlier.
"The resilient nature of our business model underpins confidence in our ability to continue to achieve double-digit revenue growth, significant margin progression and to pay a progressive dividend," said Chief Executive Officer Mike Danson.
"We enter 2023 in a position of strength with visibility on more than 80% of our FY23 revenue guidance, giving us the confidence for both growth and margin expansion into 2023 and beyond.
"With a strong business model and differentiated product, GlobalData is well placed to capitalise on the multiple levers open to us to create long-term compounding growth and shareholder returns in the year ahead and beyond."
By Greg Rosenvinge, Alliance News reporter
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