21st Jan 2025 13:58
(Alliance News) - System1 Group PLC on Tuesday forecast full-year profit ahead of market expectations, accelerated by third-quarter earnings.
The London-based owner of a marketing decision-making platform said total revenue for the third quarter that ended December 31 was GBP10.2 million, up 24% from GBP8.0 million last year.
This brought total revenue for the nine months to date to GBP28.5 million, rising 28% from GBP21.4 million the year before.
System1 won just over 120 new clients during the third quarter, boosting its nine-month figure to just over 230 clients. This was a 14% growth year-on-year from 200 new clients.
Chief Executive Officer James Gregory said: "The third quarter ended well with record platform revenue, strong revenue retention, and an encouraging new business pipeline for the rest of the financial year. We are making good progress with the GBP2 million investment programme announced in our interim results last month which is targeting medium-term revenue growth through building our position in the US and revitalising System1's Innovation proposition."
Looking ahead, System1 expects to achieve full-year revenue in line with current market expectations, citing a company-compiled consensus of GBP37 million. This would be a 21% jump from the GBP30.0 million in revenue reported for financial 2024.
The group also expects to deliver pretax profit of around GBP5 million, 47% higher year-on-year from GBP3.1 million and above the market consensus of GBP4.4 million.
Shares in System1 were up 6.3% at 627.00 each in London on Tuesday afternoon.
By Emily Parsons, Alliance News reporter
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