Half Year Trading Update
No summary for this filing – the full text is below.
Select text to share a quote on X · sign in to keep highlights & notes in your ADVT notes
AdvancedAdvT Limited (AIM: ADVT, "AdvT", "the Group"), the international software solutions provider for business, compliance and resource management, has published a trading update for the six months to 31 August 2024.
Group revenue is expected to be in the order of £19.5m, with Adjusted EBITDA1 expected to be in the order of £4m, trading in line with the Board's expectations.
Net cash and investments on 31 August 2024 totalled £108.3m, comprising net cash of £83.3m and £25m held as an investment in M&C Saatchi plc.
AdvT expects to publish its half year results in mid-November 2024.
Vin Murria, AdvancedAdvT's Executive Chairperson, said
"We continue to experience positive momentum, with all the acquired units benefiting from the operational and financial actions implemented since acquisition.
"SaaS revenues have shown positive growth, with Resource Scheduling SaaS revenues recording significant gains. This combined with our focus on customer value has driven notable improvements in both revenue and EBITDA performance.
"Whilst we see numerous opportunities for organic business growth, particularly with AI, automation and SaaS offerings, we remain committed to exploring acquisition opportunities to expand the Group."
- Adjusted EBITDA as defined in the financial statements including plc costs but excluding non-trading costs such as Acquisition costs
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.