25th Jul 2019 13:13
(Alliance News) - SimplyBiz Group PLC on Thursday expressed confidence in delivering annual results in line with expectations following double-digit earnings growth in first half.
The financial advisory firm said it has continued to grow the organic revenue and adjusted earnings before interest, taxes, depreciation, and amortization following the acquisition of Defaqto in March.
"We are delighted to have completed the acquisition of Defaqto in March 2019 and welcome their directors and staff into The SimplyBiz Group," said Joint Chief Executive Matt Timmins. "The integration of the business is progressing well and in line with management expectations."
SimplyBiz said it has delivered 20% revenue and 30% adjusted Ebitda growth in the six months to the end of June, including the three-month contribution from Defaqto.
"The directors are confident that the group's overall performance is in line with expectations and intend to declare an interim dividend to shareholders, in line with the stated dividend policy," SimplyBiz said in its statement Thursday. "Management remains confident of delivering against their full year earnings expectation."
SimplyBiz intends to publish its half-year results on September 10.
The stock was trading 0.5% higher on Thursday in London at 212.00 pence a share.
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