20th Oct 2021 12:17
System1 Group PLC - marketing and brand consultancy based in London - Sees "marked" increase in sales of automated data products in the first half, which ended September 30. Says data products represented 45% of revenue in second quarter, growing from 28% in the first quarter. Notes data revenue in the second quarter exceeded the first quarter despite a quarter-on-quarter reduction in total revenue. Total revenue in the first half grew 22% on last year to GBP12.3 million.
Says pretax profit to be about GBP1.3 million in first half, improved from GBP400,000 loss a year before.
"We have been delighted by the continuing adoption by both new and existing customers of System1's repeatable, fast-turnaround and scalable data products as they displace the historic large bespoke consultancy projects that dominated the group's activity until H2 last year," company says.
"We believe that the growth in data revenues signals tangible progress towards our strategic goals, and that these revenues will in due course more than offset the reduction in bespoke consultancy projects as more customers switch to using our automated data products."
Current stock price: 279.99 pence; up 12% on Wednesday
Year-to-date change: up 58%
By Paul McGowan; [email protected]
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