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RNS Number : 6011X 4GLOBAL PLC 27 April 2023
27 April 2023
4GLOBAL PLC
("4GLOBAL", the "Group" or the "Company")
Trading Update
4GLOBAL, a UK-based data, services and software company, is pleased to
announce a trading update for the year ended 31 March 2023.
The Board is pleased to announce that, subject to the Group's audit, revenue
generation in the second half of the financial year has been strong with the
Group expecting to report revenues of approximately £5.6m. The Adjusted
EBITDA(1) is in line with market expectations(2).
As previously reported, the Group's revenue generation profile has been
weighted to the second half of the financial year. While both Services and
Technology divisions both performed in the year being reported, the Directors
are specifically pleased to report Technology revenues continue to grow as the
Company continues to focus on increasing its recurring revenue as a percentage
of total revenue.
The Group had cash balances of £1.1m, Accounts Receivable and Accrued Income
totalled £3.4m as at 31 March 2023.
For further information please contact:
4GLOBAL c/o IFC Advisory
Eloy Mazon (CEO)
Spark Advisory Partners - Nominated Adviser 0203 368 3554
Neil Baldwin
Canaccord Genuity Limited - Broker 020 7523 8000
Bobbie Hilliam
IFC Advisory 0203 934 6630
Graham Herring / Zach Cohen
This announcement contains inside information for the purposes of article 7 of
the Market Abuse Regulation (EU) 596/2014 as amended by regulation 11 of the
Market Abuse (Amendment) (EU Exit) Regulations 2019/310.Upon the publication
of this announcement, this inside information is now considered to be in the
public domain.
Note 1: Adjusted EBITDA is defined as statutory profit from operations before
interest, taxation, depreciation, share based payment expense and exceptional
items.
Note 2: Market expectation is defined as adjusted EBITDA for the year to 31
March 2023 of approximately £0.9m as set out in the broker report that
follows 4GLOBAL as at 26 April 2023.
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