REG - AdvancedAdvT Limited - Half Year Trading Update

AdvancedAdvTAnnouncement

27/09/2024 07:00

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RNS Number : 9023F  AdvancedAdvT Limited  27 September 2024

27 September 2024

 

AdvancedAdvT Limited

 

Half year trading update

 

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
EBITDA(1) 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."

 

 

1. Adjusted EBITDA as defined in the financial statements including plc costs
but excluding non-trading costs such as Acquisition costs

 

Enquiries:

 

 AdvancedAdvT Limited
 Vin Murria, Chairperson                                c/o Meare Consulting

 Gavin Hugill, Chief Financial Officer

 Singer Capital Markets (Nominated Adviser and Broker)  Tel: 020 7496 3000
 Philip Davies / Asha Chotai / Sam Butcher

 KK Advisory (Investor Relations)                       Tel: 020 7039 1901
 Kam Bansil

 

 Meare Consulting
 Adrian Duffield     Tel: 07990 858548

 

Note to Editors

 

AdvancedAdvT Limited (AdvT) provides software solutions and platforms across:
business, compliance solutions for the   Public Sector and Healthcare, and
Resource Management solutions, and human capital management for global
corporations.

 

AdvT is an agent for change. The Group enables the delivery of Artificial
Intelligence ("AI"), data analytics and business intelligence, all of which
are key future drivers for growth in these sectors where long term
digitisation trends are set to transform the workplace for professionals.

 

AdvT is developing both organically and through acquisitions, by expanding its
presence across adjacent markets, geographical boundaries and digital sectors.

 

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