28th Jan 2025 21:20
Big Technologies PLC - Hertfordshire, England-based remote people monitoring technology - Continues to perform in line with the firm's expectations. Expects revenue to be GBP50.3 million in the year to December 31, down 8.9% from GBP55.2 million a year prior. Sees adjusted earnings before interest, taxes, depreciation and amortisation falling 18% to GBP27.0 million from GBP33.0 million. Says these results are in line with "current market expectations" and reflect the ongoing investment made in expanding the business development effort in the US, which is starting to show positive results, in terms of new customer wins. Explains full year performance reflects the loss of revenue from a former customer in Colombia, from May 2024 onwards.
"Visibility on the base-level of business for 2025 is very good and we expect to see growth in the monthly recurring revenue as we make progress throughout the year, assuming no adverse movements in foreign exchange. As a result, we expect group sales and profitability for 2025 to be at a similar level to that achieved in 2024, which remains in line with current market expectations," company says.
Current stock price: 123.00 pence, down 2.8% in London on Tuesday
12-month change: down 2.0%
By Jeremy Cutler, Alliance News reporter
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