10th Mar 2025 10:39
(Alliance News) - GlobalData on Monday said that strategic mergers and acquisitions remain a core element of its growth strategy as it posted improved revenue and a lower dividend.
The London-based analytics and consultancy firm said pretax profit for 2024 jumped 32% to GBP54.9 million from GBP41.5 million the prior year. It said this reflects its stronger operating performance.
Finance costs for the firm fell 68% to GBP10.2 million from GBP32.2 million, which the firm attributed to a reduction in average drawn debt throughout the year.
Revenue growth also boosted the bottom line, rising 4.5% to GBP285.5 million from GBP273.1 million, owing primarily to underlying growth.
On an underlying basis, said GlobalData, subscriptions grew 4% with this underpinned by continued strong renewal rates and new business wins.
GlobalData shares were up 2.2% at 187.00 pence on Monday morning in London.
The firm reduced its final dividend proposed by 69% to 1.0p from 3.2p as part of its dividend rebasing to focus capital on mergers and acquisitions. The firm's total dividend for 2024 was down 46% to 2.5p from 4.6p.
Looking ahead, GlobalData expressed confidence in its outlook for 2025, with this underpinned by a mix of revenue visibility, its financial position and its execution of its growth transformation plan.
Chief Executive Mike Danson commented: "2024 was transformational for GlobalData following Inflexion's significant investment in June 2024, which strengthened our balance sheet and accelerated our growth strategy. We have launched and made significant progress in our 2024-26 Growth Transformation Plan, particularly through our AI-first approach.
"Strategic M&A remains a core element of our growth strategy, with four earning accretive acquisitions completed during the year, strengthening our One Platform offering...we enter 2025 with clear priorities and a strengthened team to deliver. With strong revenue visibility, a clear transformation roadmap, and the financial capacity to execute, we're confidently progressing toward our target of GBP500 million annualised revenue by 2026."
By Christopher Ward, Alliance News reporter
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