22nd Oct 2024 11:56
(Alliance News) - System1 Group PLC on Tuesday said it anticipates to report a sound increase in profit and revenue as it won over a higher number of new platform clients than a year ago.
The London-based owner of a marketing decision-making platform said revenue jumped 38% to GBP18.3 million in the six months to September 30, from GBP13.3 million a year ago.
The company expects to report a pretax profit of GBP2.5 million, up from GBP925,000 a year ago.
System1 noted it won over 160 new platform clients in the financial first half, up 18% from 136 a year ago.
Chief Executive Officer James Gregory said: "I am delighted that our focus on winning in America is delivering strong growth and financial results. We are continuing to win and retain business with the world's largest advertisers and will be accelerating and significantly increasing investment in the coming months to build our position in America and revitalise System1's Innovation proposition."
The company will release its half-year results on December 3.
System1 shares fell 8.6% to 640.00 pence each on late Tuesday morning in London.
By Tom Budszus, Alliance News slot editor
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