REG - System1 Group PLC - Trading Update

System1Announcement

23/02/2023 07:00

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RNS Number : 7679Q  System1 Group PLC  23 February 2023

 

   23 February 2023

 

 

System1 Group PLC (AIM: SYS1)

 ("System1", or "the Company", or "the Group")

 

Third Quarter Trading Update

 

 

System1 today issues an update on trading for the quarter ended 31 December
2022 (Q3).

 

Data revenue grew 18% on the comparable period to £3.4m, a quarterly record,
(Q3 2022: £2.8m) representing 55% of Q3 revenue. Year-to-date Data revenue
increased by 31% on the comparable period to £9.6m. As expected, the
reduction in consultancy revenue narrowed from 46% in H1 to 21% in Q3 on the
comparable period. Consequently, total Q3 revenue declined 4% on the
comparable period last year to £6.2m from £6.5m (H1: -15%, YTD -12%).

 

Gross profit margin improved in Q3 compared with the first half-year, lifting
the year-to-date margin to 82.7% (H1 2023:81.5%)

 

Q3 period-end cash, net of borrowings, was £5.1m, compared with £6.6m at 30
September 2022, due partly to high quarter-end working capital following a
strong December. During the period the Company repaid all of its £2.5m
revolving credit facility and we do not anticipate a reduction in net cash
during the final quarter.

 

Capital Markets Day

As previously announced, the Company will hold a capital markets day at 2pm
GMT on Tuesday 28(th) February. You can register at:
https://www.investormeetcompany.com/system1-group-plc/register-investor
(https://gbr01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.investormeetcompany.com%2Fsystem1-group-plc%2Fregister-investor&data=05%7C01%7Cchris.willford%40system1group.com%7Cd7d6ca5e9d824184ccc508db045f6297%7C8c105f4032314885a3682fdd54c338b6%7C0%7C0%7C638108580990765456%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000%7C%7C%7C&sdata=r%2Fvpc%2BSS5tlFxs6OhUTIuXFH2PyVHpF%2BsVaDgagxZFI%3D&reserved=0)

Investors who already follow SYSTEM1 GROUP PLC on the Investor Meet Company
platform will automatically be invited.

 

Further information on the Company can be found at www.system1group.com
(http://www.system1group.com) .

 

 

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. With the publication
of this announcement, this information is now considered to be in the public
domain.

 

For further information, please contact:

 System1 Group PLC                                           Tel: +44 (0)20 7043 1000
 James Gregory, Chief Executive Officer
 Chris Willford, Chief Financial Officer
 Canaccord Genuity Limited (Nominated Adviser & Broker)      Tel: +44 (0)20 7523 8000
 Simon Bridges / Andrew Potts

 

 

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