UK's Itim Group returns to profit as H1 revenue rises
UK's Itim Group returns to profit as H1 revenue rises
Overview
UK SaaS retail tech provider's H1 revenue rose to £8.6 mln, recurring revenue reached 86%
Adjusted EBITDA for H1 increased to £1.3 mln, margin improved to 15%
Company returned to profit before tax amid challenging UK retail market
Outlook
Company says UK retail market remains challenging, with subdued economic growth and cautious investment
Company sees a growing pipeline of prospects, with future sales dependent on conversion in H2
Result Drivers
RECURRING REVENUE MODEL - Co said revenue growth and profitability were driven by the strength and stability of its subscription base
SOUTH AMERICA PERFORMANCE - Co said operations in South America delivered a much stronger performance, supporting group results
AI PLATFORM LAUNCH - Co launched itimAIQ during the period, marking a step in its AI plans, though immediate impact not quantified
Company press release: ID:nRSV6605Va
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Revenue |
| GBP 8.60 mln |
|
H1 Net Income |
| GBP 336,000 |
|
H1 EBITDA |
| GBP 1.26 mln |
|
H1 Gross Profit |
| GBP 3.40 mln |
|
Analyst Coverage
The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 22 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)