12th Apr 2023 11:00
System1 Group PLC - London-based marketing and brand consultancy - Posts revenue of GBP6.6 million for the fourth quarter ended on March 31, taking annual financial 2023 revenue to GBP23.3 million. This is down 3.3% from GBP24.1 million the year before. Says during the fourth quarter, it has specifically grown its standard "Predict Your" and "Improve Your" products. "The US delivered its highest half year of revenue since [financial 2021], and standard product revenue increased by 23% for the year as a whole," System1 says. Standard revenue totals GBP17.1 million for the full year.
Looking ahead, System1 expects annual profit to slightly exceed its previous expectations. Adds it expects to return to profit in the second half, and year as a whole, on an adjusted and statutory basis, thanks to an improved revenue performance in the second half.
Chief Executive Officer James Gregory says: "I am delighted with the upturn in performance in the second half-year. The profitable growth in our standard, platform-based products in the US and elsewhere demonstrates that we have the right strategy, business model and management team."
Current stock price: 190.00 pence each, up 17% on Wednesday morning in London
12-month change: down 36%
By Xindi Wei, Alliance News reporter
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