21st Oct 2019 14:37
(Alliance News) - Mind Gym PLC said Monday it expects to report revenue growth for the first half of its financial year, and consquently expects annual revenue to be ahead of expectations.
For the six months to the end of September, the behavioural science firm expects revenue to grow by 24% to GBP23.9 million, from GBP19.4 million the year before.
This is due to strong performances from the US and Europe, Middle East & Africa. As a result, revenue for the year ending March 2020 is expected to be ahead of expectations.
In addition, Mind Gym said it expects adjusted pretax profit to be consistent with the same period the year before. For the six months ended September 2018, adjusted pretax profit was GBP4.1 million.
The company said its strategy of focusing on deepening key client relationships was paying off, with an increased proportion of revenue from existing clients.
"The market for business cultural change is ripe for disruption. Our strong revenue performance in the first half shows how leaders of big businesses are increasingly switching to our new, behavioural science-based solutions," said Chief Executive Officer Octavius Black.
"We are pleased with the first half results and very focused on what needs to be done to deliver long term, sustainable growth," Black added.
Shares in Mind Gym were up 8.6% at 133.00 pence on Monday in London.
By Dayo Laniyan; [email protected]
Copyright 2019 Alliance News Limited. All Rights Reserved.
Related Shares:
Mind Gym Plc