5th Feb 2025 14:20
(Alliance News) - Made Tech Group PLC on Wednesday said it swung to a profit in the first half of its current financial year, as a result of investments into commercial operations.
The London-based provider of digital, data and technology services to the UK public sector said it swung to a pretax profit of GBP450,000 in the six months that ended November 30, from a loss of GBP975,000 the year before.
Shares in Made Tech were up 14% to 31.50 pence in London on Wednesday afternoon. The stock has more than tripled from 9.50p over the last twelve months.
Revenue grew 13% to GBP21.8 million from GBP19.1 million last year, while depreciation & amortisation during the six-month period reduced 58% to GBP431,000 from GBP784,000.
Adjusted earnings before interest, tax, depreciation and amortisation were up 25% to GBP1.8 million from GBP1.4 million a year prior.
Chief Executive Officer Rory MacDonald said: "It is a pleasure to announce these results to shareholders. This improving performance is a direct result of the investment we have made into our commercial operations and processes over the last two years.
"We are on track to deliver positive free cash flow and double-digit revenue growth in financial 2025 and the business is in great shape to benefit from new public sector digitalisation programmes, which are expected to be announced in the UK government spending review in the Spring.
"The structural growth drivers for our market remain strong and the board and I are increasingly confident in the outlook for the business in financial 2026 and beyond."
The firm's full-year outlook is underpinned by GBP80.8 million in contracted backlog.
By Emily Parsons, Alliance News reporter
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