17th Nov 2021 18:10
Merit Group PLC - London-based data technology company - Reports narrowed pretax loss for the first half of financial 2022 driven by both higher revenue and an improved gross margin. For six months to September 30, posts revenue GBP12.3 million, up 21% from GBP10.2 million last year and pretax loss narrows to GBP600,000 from GBP2.6 million loss year prior. Gross margin rises to 39% from 31%. Adjusted earnings before interest, tax, depreciation and amortisation is GBP1.3 million compared with a loss of GBP197,000 a year earlier.
"The recovery in trading we saw in the second half of the last financial year has continued into FY22. We are confident Merit is trading in line with market expectations for Ebitda in the full year. The newly strengthened management team are making good progress in addressing the key drivers that will improve the group's prospects and returns to shareholders," says Chair Mark Smith.
Current stock price: 50.50 pence
Year-to-date change: down 33% from April merger with Dods Group
By Arvind Bhunjun; [email protected]
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