REG - TPXimpact Holdings - Unaudited Interim Results
Today 07:00
For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20251202:nRSB7716Ja&default-theme=true
RNS Number : 7716J TPXimpact Holdings PLC 02 December 2025
2 December 2025
TPXimpact Holdings PLC
("TPX", or the "Group", or the "Company")
Unaudited Interim Results
Improved profitability and reduced net debt in line with key objectives of
three-year plan
TPXimpact Holdings PLC (AIM: TPX), the technology-enabled services company
focused on people-powered digital transformation, is pleased to announce its
unaudited interim results for the six months ended 30 September 2025.
As we approach the end of the three-year turnaround plan we are delighted to
report that as a result of significant integration and materially improved
operating efficiency all key profitability metrics improved compared with the
prior year. Despite revenue declining year on year by 4.3% adjusted EBITDA
is up 39%.
The board reaffirms adjusted EBITDA guidance of £6-7m for the current year.
As the business returns to revenue growth we anticipate further improvements
to adjusted EBITDA margin and overall profitability.
Financial highlights(1):
● As the Group nears the end of its three year plan, we are delighted that our
key focus on cash generation and materially improved profitability can be
clearly seen in the metrics below
● Revenue of £36.2m (H125: £37.8m), a year on year decrease of 4.3%
● New business wins of £31m (H125: £35m), with pipeline activity building
● Gross margin up to 31.0% (H125: 28.3%; H124: 26.2%)
● Adjusted EBITDA(2) up 39% to £3.2m (H125: £2.3m; H124: £2.0m). On track to
meet our full year adjusted EBITDA guidance of £6-7m
● Adjusted EBITDA(2) margin increased to 8.8% (H125: 6.1%; H124: 4.8%)
● Reported operating loss reduced to £(1.1)m (H125: £(3.4)m; H124: £(9.0)m)
● Adjusted diluted earnings per share(2) up strongly to 1.7p (H125: 1.2p; H124:
0.5p)
● Reported diluted loss per share improved to (1.6)p (H125: (3.6)p; H124:
(10.2)p)
● Net debt(2) (excluding lease liabilities) as at 30 September 2025 of £7.0m
(FY25: £8.5m; FY24: £7.1m)
● Leverage ratio at 30 September 2025 of 1.1x (FY25: 1.5x; FY24: 1.5x)
Operational highlights:
● On track to achieve key objectives of the three year plan with a simplified
operating structure of three business units, much improved profit conversion,
and significantly reduced debt levels
● Investing in Business Development, Account Management and aligning marketing
activity
● Total headcount (including associates) decreased by 9% in H1 to 552 people
(FY25: 608 people). Permanent employees decreased by 6% in H1 to 405 people
(FY25: 431) and the number of contractors reduced by 17% to 147 (FY25: 177)
● Employee retention rates improved to 91% (FY25: 86%) on an annualised basis
● Female representation stands at 50% (FY25: 51%) and ethnic minority
representation stands at 20% (FY25: 20%)
● Carbon intensity increased to 19.3tCO(2)e/£1m of revenue (H125:
18.0tCO(2)e/£1m of revenue)
Outlook
● Post Spending Review we have seen market conditions start to normalise and
pipeline activity increase.
● FY26 outlook is unchanged. The Board reaffirms adjusted EBITDA outlook of
£6-7m
● Management expects net debt to reduce further. The Board updates year-end net
debt guidance to below £6m (previously £7-8m), and updates year-end leverage
target to less than 1.0x net debt to adjusted EBITDA (previously 1.0x - 1.5x)
● Following the successful execution of the current three year plan at the end
of this year, the Board expects to lay out the next medium term plan for the
Group and will articulate this alongside full year results for the current
financial year.
(1)Unless otherwise stated financial measures are based upon the results of
continuing operations.
(2)In measuring our performance, the financial measures that we use include
those which have been derived from our reported results in order to eliminate
factors which distort period-on-period comparisons. These are considered
non-GAAP financial measures, and include measures such as adjusted EBITDA,
adjusted diluted earnings per share and net debt which are defined in notes 6
and 7.
Bjorn Conway, Chief Executive Officer of TPXimpact Holdings PLC, commented:
"As we near the completion of our three year plan to turn around company
performance and restructure the component parts of TPXimpact into three clear,
branded, operational units, I am pleased with the continuing commitment of our
teams to exceptional delivery for our clients.
Our priority over the last two and a half years has been to build a sound and
secure financial footing to provide a firm foundation for growth over the next
three years.
The work to simplify the business, improve systems and strengthen management
processes has resulted in significant tangible improvements in profitability,
cash generation, and debt repayment against our historic comparators in FY25
and FY24.
The market for our public sector businesses has started to normalise following
the significant disruption seen in FY25. Whilst new business wins in the first
half of the year remain a little lower than we would like (£31m versus £35m
for the same period last year), we see the improving conditions reflected in
our pipeline of opportunities and the level of bidding activity.
Our client delivery remains a key strength both with existing clients such as
His Majesty's Land Registry and new clients for this year such as His
Majesty's Prison and Probation Service and City of London Corporation."
-Ends-
This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 as it forms part of UK domestic law by virtue of
the European Union (Withdrawal) Act 2018. The person responsible for this
announcement is Noel Douglas, CFO.
Enquiries:
TPXimpact Holdings Via Alma Strategic
Bjorn Conway, CEO
Noel Douglas, CFO
Cavendish Capital Markets Limited +44 (0) 20 7220 0500
(Nominated Adviser and Broker)
Marc Milmo / Trisyia Jamaludin (Corporate Finance)
Tim Redfern (Corporate Broking)
Alma Strategic Communications tpx@almastrategic.com
(Financial PR) +44 (0) 203 405 0209
Josh Royston
Andy Bryant
Louisa El-Ahwal
About TPXimpact
We believe in a world enriched by people-powered digital transformation.
Working in collaboration with organisations, we're on a mission to accelerate
positive change and build a future where people, places and the planet are
supported to thrive.
Led by passionate people, TPXimpact works closely with its clients in agile,
multidisciplinary teams; challenging assumptions, testing new approaches and
building confidence and capabilities. Combining our rich heritage with
expertise in human-centred design, data, experience and technology, we work to
create sustainable solutions with the flexibility to learn, evolve and change.
The business is being increasingly recognised as a leading alternative digital
transformation provider to the UK public services sector, with over 90% of its
client base representing public services.
More information is available at www.tpximpact.com (http://www.tpximpact.com)
.
CEO's statement
Overview
The Group is on track to achieve its full-year adjusted EBITDA objectives and
it's pleasing to see improving gross margins and operational efficiency
translate into net debt reducing faster than previously planned.
We are two and a half years into our three year transformation plan for
TPXimpact. During this time we have moved away from a collection of sub-scale
businesses to three individually branded businesses focused on very distinct
client segments and their needs: TPXimpact - an end-to-end digital
transformation partner for the public sector; KITS - programme recovery and
managed services provision for the public sector; manifesto - digital
experience and engagement for the not for profit, visit and attractions
sector.
Underlying business performance has improved consistently over the same period
with gross margin and adjusted EBITDA up substantially and improved cash
generation leading to much reduced net debt - all whilst delivering large,
complex programmes that help our clients meet challenging objectives.
The combination of consolidation into clear client-facing business units,
improved systems, and stronger financials provides a strong platform for
future growth in a market that is starting to normalise after the general
election, spending reviews and budgets.
To capitalise on this opportunity, we are actively investing in our sales
capability within our new business development and account management teams.
Market Context and Trading Performance
The medium-term demand for our services remains strong. We have concentrated
our effort on three areas: place & infrastructure, transforming
government, and health. These have proved to be resilient priorities for the
UK Government through the allocation of funding in recent budgets and spending
reviews.
His Majesty's Land Registry (a 4-year, £49m contract) is our largest client
and we have delivered tens of work packages as their digital transformation
partner. Our work helps HMLR improve their operations and directly contributes
to the UK Government's growth agenda.
A new client this year is His Majesty's Prison & Probation Service (a £9m
contract), where we are bringing our latest innovations and insights to
deliver the digital transformation that enhances justice services.
Our clients benefit from a unique combination of people who have walked in
their shoes, the latest design, data and technology thinking, and our ability
to work with our clients to deliver early, tangible value and long-lasting
solutions.
New business wins in the first half of FY26 (£31m) are similar to the
pre-election levels in the first half of FY25 (£35m) and we are encouraged by
the improving pipeline of opportunities we see in our chosen areas of focus.
This, along with broader commentary across our sector, gives us good
confidence in the medium-term outlook for TPXimpact.
We are proud of the relationships we have built across various government
departments, and our reputation for delivering against client outcomes is
reflected in our healthy average tenure, with four fifths of all revenue
coming from clients we have worked with for at least 3 years.
Interest in AI has continued to move at pace. Gaining advantage from the
benefit of AI-enabled solutions whilst operating in a data-safe and ethical
way is becoming a core requirement. At TPXimpact we advise on strategies to be
successful in this new world and develop solutions for clients that utilise AI
to deepen citizen engagement with services, improve operational effectiveness,
and drive efficiencies. A good example is the delivery of an AI-powered
knowledge tool that helps staff in a major Government body accelerate complex
casework, improving the experience and outcomes for applicants.
We are AI practitioners, using AI enabled tools in our own business and we
provide an agentic data analytics service through the Oracle Cloud.
Demonstrating Social Value
Social value is incredibly important to our public sector clients and this is
reflected through their scoring of tenders, typically 10-20% of the marks. It
is also incredibly important to our teams as it is a manifestation of the PACT
values: Purpose, Accountability, Craft, and Togetherness, that are central to
how we operate and are an attraction for joining and staying at TPXimpact.
Being a B-Corp certified business is an external validation of our strength in
social value delivery and we continue to embed inclusion and sustainability
across the business.
Employee engagement remains strong with the staff retention rate increasing to
91% (FY25: 86%). Permanent staff numbers reduced slightly to 405 (FY25: 431)
reflecting disciplined workforce management to reflect our client's needs for
specific skill sets and our focus on operational performance.
Our Modern Slavery Assessment Tool (MSAT) score improved to 90% (FY25: 88%),
evidencing further progress in supply chain oversight and ethical standards.
This ongoing commitment to transparency and responsible business practice was
recognised externally, with TPXimpact winning the IR Impact Awards - Europe
for Best ESG Reporting and being shortlisted at the IR Society Awards for Best
Communication of Sustainability.
This reinforces TPXimpact's position as a leading purpose-led, inclusive, and
responsible organisation, aligned with the priorities of our public-sector
partners and the expectations of our wider stakeholders.
Outlook
Looking ahead, we are encouraged by the growing stability within the UK
Government and increasing evidence of renewed public-sector investment in
digital transformation. The structural drivers behind our markets, efficiency,
automation and responsible AI, remain firmly in place, supported by clear
policy priorities and an improved funding outlook.
With a healthy pipeline, stronger balance sheet and a proven capacity to
execute, TPXimpact is well-positioned to benefit as market activity builds
through the second half. Our priorities are clear: convert pipeline
opportunities, sustain profitability improvements and continue to reduce
leverage through disciplined cash management.
Bjorn Conway
CEO, TPXimpact
2 December 2025
Financial Review
Overview
The interim results for the six months ended 30 September 2025 ("H126") are
consistent with management's expectations and demonstrate continued progress
strengthening TPXimpact's financial position. Whilst revenue was slightly down
year-on-year, profitability, cash generation and leverage have all improved as
a result of disciplined cost control, stronger project execution and the
benefits of a leaner operating model.
Revenue for the first half was £36.2m (H125: £37.8m), with the small
decrease reflecting timing delays in public sector procurement activity
following the Spending Review, partly offset by continued demand in place and
infrastructure and justice.
Gross margin improved to 31.0% (H125: 28.3%), driven by higher utilisation and
robust pricing.
Operational Efficiency and Cost Management
Headcount, including associates, decreased by 9% to 552 at 30 September 2025
(FY25: 608), reflecting a continued focus on efficiency and selective hiring.
The ratio of permanent staff to associates remains broadly stable at ~70:30,
maintaining delivery flexibility while improving margin resilience.
Employee retention has remained strong at 91% (FY25: 86%), demonstrating the
continued appeal of the Company's employee proposition and purpose-driven
culture.
Profitability
Adjusted EBITDA for the first half increased to £3.2m (H125: £2.3m),
reflecting the benefit of cost efficiencies, improved utilisation, and tighter
project delivery. Adjusted EBITDA margin expanded to 8.8% (H125: 6.1%).
Reported operating loss was £(1.1)m (H125: £(3.4)m), including intangible
amortisation and depreciation of £2.8m (H125: £3.2m), share-based payment
charges of £0.8m (H125: £0.9m), and restructuring and transformation costs
of £0.7m (H125: £1.5m). Adjusted profit before tax increased to £2.2m
(H125: £1.1m), with reported loss before tax improving to £(1.7)m (H125:
£(4.1)m).
Adjusted diluted earnings per share increased to 1.7p (H125: 1.2p), and
reported diluted loss per share was (1.6)p (H125: (3.6)p). No interim dividend
is proposed for the period (H125: nil).
Net Debt and Cash Flow
The Group continued to strengthen its balance sheet during the period, with
gross debt falling to £7.1m (FY25: £13.2m). Net debt (excluding lease
liabilities) at 30 September 2025 was £7.0m (FY25: £8.5m), reflecting solid
cash generation over the period.
Operating cash flow before working capital movements was £2.5m (H125:
£0.8m), with improved debtor collections offsetting modest seasonal outflows.
Debtor days improved further to 26 days (FY25: 37 days) due to favourable
timing differences in cash collection over the period.
Net finance costs reduced to £0.5m (H125: £0.7m), reflecting reduced average
borrowings. Leverage (net debt/ 12-month adjusted EBITDA) at 30 September 2025
was 1.1x, comfortably within banking covenants and consistent with previous
full year guidance of 1.0-1.5x.
Outlook
Trading post-period is in line with management's expectations. The pipeline
remains healthy, and active engagements give clear revenue and adjusted EBITDA
visibility for the remainder of the year and beyond.
TPXimpact enters the second half of FY26 with lower debt levels, a lean cost
base, and a clear focus on margin expansion and cash generation. We expect a
modest second-half weighting to the year as existing programmes expand and
pipeline activity increases.
The fundamental drivers of digital transformation-efficiency, automation, and
responsible AI adoption-remain strong, providing a supportive market backdrop.
Given the current momentum of the Group, the Board is pleased to:
● Reaffirm Adjusted EBITDA outlook of £6-7m for the current
financial year, and
● Update the net debt target to below £6m at year-end, and reduce
the anticipated leverage ratio to below 1.0x at year-end.
With a stronger financial foundation, improving margins, and a clear
commitment to disciplined execution, TPXimpact is well-positioned to deliver
sustainable growth and value creation over the medium term.
Noel Douglas
CFO, TPXimpact
2 December 2025
Unaudited interim results for the six months ended 30 September 2025
Consolidated Income Statement
For the six months ended 30 September 2025
Unaudited Unaudited Audited
6 months 6 months to 30 September 2024 Year
to 30 September 2025 ended 31
March
2025
Note £'000 £'000 £'000
Revenue 36,161 37,776 77,340
Cost of sales (24,965) (27,071) (55,213)
Gross profit 11,196 10,705 22,127
Administrative expenses (12,425) (14,362) (31,336)
Other income 81 259 489
Operating loss (1,148) (3,398) (8,720)
Finance income 24 - 89
Finance costs (555) (687) (1,408)
Loss before taxation (1,679) (4,085) (10,039)
Taxation 270 822 884
Loss and comprehensive loss for the period (1,409) (3,263) (9,155)
Earnings per share
Basic (p) 6 (1.6p) (3.6p) (10.1p)
Fully diluted (p) 6 (1.6p) (3.6p) (10.1p)
( )
Consolidated Statement of Financial Position
At 30 September 2025
Unaudited Unaudited Audited
30 September 30 September 31 March
2025 2024 2025
Note £'000 £'000 £'000
Non-current assets
Goodwill 35,713 40,190 35,713
Other intangible assets 6,425 11,430 8,790
Property, plant and equipment 34 128 67
Right of use assets 894 1,520 1,204
Other investments 2,188 2,188 2,188
Deferred tax assets 307 798 260
Total non-current assets 45,561 56,254 48,222
Current assets
Trade and other receivables 6,725 9,498 11,088
Contract assets 3,840 2,590 2,598
Corporate tax asset 35 180 331
Cash and cash equivalents 7 - 4,167 4,647
Total current assets 10,600 16,435 18,664
Total assets 56,161 72,689 66,886
Current liabilities
Trade and other payables (4,855) (6,456) (6,371)
Other taxes and social security costs (2,153) (3,724) (2,885)
Borrowings 7 (1,112) - -
Lease liabilities (728) (875) (885)
Contract liabilities (954) (959) (1,639)
Total current liabilities (9,802) (12,014) (11,780)
Non-current liabilities
Deferred tax liabilities (1,599) (2,840) (2,187)
Borrowings 5 (5,896) (12,060) (13,145)
Lease liabilities (262) (799) (444)
Total non-current liabilities (7,757) (15,699) (15,776)
Total liabilities (17,559) (27,713) (27,556)
Net assets 38,602 44,976 39,330
Equity
Share capital 930 922 922
Share premium 6,538 6,538 6,538
Merger reserve 45,972 50,449 45,972
Capital redemption reserve 15 15 15
Own shares (990) (912) (1,109)
Retained earnings (13,863) (12,036) (13,008)
Total equity 38,602 44,976 39,330
Consolidated Statement of Changes in Equity
For the six months ended 30 September 2025
Capital redemption reserve
Share capital Share premium Merger reserve Own shares Retained earnings
Total
£'000 £'000 £'000 £'000 £'000 £'000 £'000
At 1 April 2025
922 6,538 45,972 15 (1,109) (13,008) 39,330
Loss for the period - - - - - (1,409) (1,409)
Transactions with owners
Shares issued 8 - - - (8) - -
Own shares transferred from EBT - - - - 205 (196) 9
Own shares purchased by EBT - - - - (78) - (78)
Share based payments - - - - - 750 750
At 30 September 2025 (Unaudited) 930 6,538 45,972 15 (990) (13,863) 38,602
Consolidated Statement of Changes in Equity
For the year ended 31 March 2025
Capital redemption reserve
Share capital Share premium Merger reserve Own shares Retained earnings
Total
£'000 £'000 £'000 £'000 £'000 £'000 £'000
At 1 April 2024 922 6,538 50,449 15 (955) (9,134) 47,835
Loss for the period - - - - - (3,263) (3,263)
Transactions with owners
Own shares transferred from EBT - - - - 515 (503) 12
Own shares purchased by EBT - - - - (472) - (472)
Share-based payments - - - - - 864 864
At 30 September 2024 (Unaudited)
922 6,538 50,449 15 (912) (12,036) 44,976
Loss for the period - - - - - (5,892) (5,892)
Transfer to retained earnings - - (4,477) -
- 4,477 -
Transactions with owners
Own shares transferred from EBT - - - -
42 (42) -
Own shares purchased by EBT - - - -
(239) - (239)
Share-based payments - - - - - 485 485
At 31 March 2025 (Audited)
922 6,538 45,972 15 (1,109) (13,008) 39,330
Consolidated Statement of Cash Flows
For the six months ended 30 September 2025
Unaudited Unaudited Audited
6 months to 6 months to 30 September 2024 Year ended
30 September 2025 31 March
2025
£'000 £'000 £'000
Cash flows from operating activities:
Loss before taxation (1,679) (4,085) (10,039)
Adjustments for:
Depreciation 462 488 979
Amortisation of intangible assets 2,365 2,746 5,383
Impairment of goodwill - - 4,477
Share-based payments 813 941 1,421
Finance income (24) - (89)
Finance costs 555 687 1,408
Working capital adjustments:
Decrease in trade and other receivables 3,065 2,478 977
Decrease in trade and other payables (3,046) (2,753) (3,522)
Net cash generated from operations 2,511 502 995
Tax received 9 437 437
Net operating cash flows 2,520 939 1,432
Cash flows from investing activities:
Interest received 24 - 89
Purchase of property, plant and equipment (8) - -
Net cash generated from investing activities 16 - 89
Cash flows from financing activities:
Proceeds from exercise of share options 9 12
12
New borrowings - - 2,000
Repayment of borrowings (7,200) (4,000) (5,000)
Purchase of own shares (78) (472) (711)
Payment of lease liabilities (494) (485) (1,005)
Interest paid (532) (761) (1,104)
Net cash used in financing activities (8,295) (5,706) (5,808)
Net decrease in cash and cash equivalents (5,759) (4,767) (4,287)
Cash and cash equivalents at beginning of the period 4,647 8,934
8,934
Cash and cash equivalents at end of the period (1,112) 4,167 4,647
Comprising:
Cash at bank and in hand 4,647
(1,117)
4,136
Cash held by trust 5 31 -
Cash and cash equivalents at end of the period (1,112) 4,167 4,647
Notes to the Consolidated Financial Statements
1. General information
TPXimpact Holdings plc is a public limited company incorporated in England and
Wales under the Companies Act 2006 with registered number 10533096. The
Company's shares are publicly traded on AIM, part of the London Stock
Exchange.
The address of the registered office is 2nd Floor, The Hickman, 2 Whitechapel
Road, London, E1 1EW. The principal activity of the Group is the provision of
digitally native technology services to clients within the commercial,
government and non-government organisation (NGO) sectors.
The interim financial information is unaudited.
2. Basis of preparation
The Group has not applied IAS 34 Interim Financial Reporting, which is not
mandatory for UK AIM listed companies, in the preparation of this half-yearly
report.
The consolidated interim financial information for the six months ended 30
September 2025 does not, therefore, comply with all the requirements of IAS 34
Interim Financial Reporting. The consolidated interim financial information
should be read in conjunction with the annual financial statements of
TPXimpact Holdings plc for the year ended 31 March 2025, which have been
prepared in accordance with UK-adopted international accounting standards,
with the Companies Act 2006 and the AIM rules for Companies.
This consolidated interim financial information does not comprise statutory
accounts within the meaning of section 434 of the Companies Act 2006.
Statutory accounts for the year ended 31 March 2025 were approved by the Board
of directors and delivered to the Registrar of Companies. The report of the
auditors on those accounts issued an unqualified opinion and did not contain
any statement under sections 498 (2) or (3) of the Companies Act 2006. The
auditor's report drew attention by way of an emphasis of matter to the high
degree of judgement involved in forecasting sales growth and EBITDA margins,
to support the carrying value of goodwill and other intangible assets.
The interim financial statements are presented in pound sterling (GBP), which
is the functional currency of the parent company.
3. Basis of consolidation
These interim consolidated financial statements consolidate those of the
Company and all of its subsidiary undertakings drawn up to 30 September 2025.
Subsidiaries are fully consolidated from the date of acquisition, being the
date on which the Group obtains control, and continue to be consolidated until
the date that such control may cease. The financial statements of the
subsidiaries are prepared for the same reporting period as the parent company,
using consistent accounting policies.
4. Accounting policies
The accounting policies used in the preparation of the interim consolidated
financial information for the six months ended 30 September 2025 are in
accordance with the recognition and measurement criteria of International
Financial Reporting Standards (IFRS) and are consistent with those which were
adopted in the annual statutory financial statements for the year ended 31
March 2025.
5. Borrowings
At 31 March 2025, the Group had a revolving credit facility ("RCF") with HSBC
of £25m with a £15m accordion of which £13.2m had been drawn down.
In July 2025, the Group refinanced the RCF with its bankers. The existing
£25m RCF, due to mature in July 2026, was reduced to £11m with a £5.5m
accordion, and a £4m overdraft (renewed annually). The new RCF has an initial
term of three years and may be extended by one year by mutual agreement, with
a further option to extend for an additional year thereafter. Under the terms
of the RCF, the covenants now comprise two measures to be assessed at each
quarter end: (i) Net debt (excluding lease liabilities) to rolling twelve
month Adjusted EBITDA of 2.5x or less; and (ii) rolling twelve month Adjusted
EBITDA to net finance costs of at least 4.0x. The Group satisfied these
revised covenants throughout the period from refinancing to 30 September 2025.
Borrowings of £7.2m were repaid during the period ended 30 September 2025.
6. Earnings per share
6 months to 30 September 2025 6 months Year
Number of to 30 September 2024 ended 31 March
shares Number of 2025
shares Number of
shares
'000 '000 '000
Weighted average number of shares for calculating basic earnings per share
90,410 90,628 90,450
Weighted average number of dilutive shares 6,444 4,036 5,498
Weighted average number of shares for calculating diluted earnings per share
96,854 94,664 95,948
6 months to 30 September 2025 6 months Year ended 31 March 2025
to 30 September 2024
£'000 £'000 £'000
Loss after tax (1,409) (3,263) (9,155)
Adjusted profit after tax(1) 1,664 1,124 2,883
Earnings per share is calculated as follows:
6 months 6 months Year ended 31 March 2025
to 30 September to 30 September
2025 2024
Basic earnings per share (1.6p) (3.6p) (10.1p)
Adjusted basic earnings per share 1.8p 1.2p 3.2p
Diluted earnings per share(2) (1.6p) (3.6p) (10.1p)
Adjusted diluted earnings per share 1.7p 1.2p 3.0p
( )
(1) Adjusted profit after tax is defined in note 7.
(2) The weighted average shares used in the basic EPS calculation has also
been used for reported diluted EPS due to the anti-dilutive effect of the
weighted average shares calculated for the reported diluted EPS calculation.
7. Alternative performance measures (unaudited)
In measuring our performance, the financial measures that we use include those
which have been derived from our reported results in order to eliminate
factors which distort period-on-period comparisons. These are considered
non-GAAP financial measures, and include measures such as adjusted EBITDA and
net debt (excluding lease liabilities). We believe this information, along
with comparable GAAP measurements, is useful to shareholders and analysts in
providing a basis for measuring our financial performance.
Reconciliation of net debt (excluding lease liabilities):
30 September 30 September
2025 2024 31 March
2025
£'000 £'000 £'000
Cash and cash equivalents as presented in the consolidated statement of - 4,167 4,647
financial position
Bank overdrafts(1) (1,112) - -
Cash and cash equivalents as presented in the consolidated cash flow statement (1,112) 4,167 4,647
Borrowings due after one year (5,896) (12,060) (13,145)
Net debt (7,008) (7,893) (8,498)
(1) Bank overdrafts are included in short-term borrowings in the Group's
balance sheet. For cash flow statement presentation purposes, these are
included in cash and cash equivalents as they are repayable on demand and form
an integral part of the Group's cash management.
Reconciliation of operating loss to adjusted EBITDA:
6 months to 6 months to Year ended
30 September 30 September 31 March
2025 2024 2025
£'000 £'000 £'000
Operating loss (1,148) (3,398) (8,720)
Amortisation of intangible assets 2,365 2,746 5,383
Depreciation 462 488 979
Impairment of goodwill - - 4,477
Share-based payments(1) 813 941 1,421
Restructuring and transformation costs 706 1,522 2,074
Adjusted EBITDA 3,198 2,299 5,614
( )
(1) Includes social security costs.
( )
( )
( )
Reconciliation of loss before tax to adjusted profit after tax:
6 months to 6 months to Year ended
30 September 30 September 31 March
2025 2024 2025
£'000 £'000 £'000
Loss before tax (1,679) (4,085) (10,039)
Amortisation of intangible assets 2,365 2,746 5,383
Impairment of goodwill - - 4,477
Share-based payments(1) 813 941 1,421
Restructuring and transformation costs 706 1,522 2,074
Adjusted profit before tax 2,205 1,124 3,316
Tax (excluding impact of above adjustments)(2) (541) - (433)
Adjusted profit after tax 1,664 1,124 2,883
(1) Includes social security costs.
(2) Tax on restructuring and transformation costs for the period ended 30
September 2024 and year ended 31 March 2025 is £nil due to the utilisation of
tax losses.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END IR FSWFWFEISEIE
Copyright 2019 Regulatory News Service, all rights reservedRecent news on Tpximpact Holdings
See all newsREG - TPXimpact Holdings - Unaudited Interim Results
AnnouncementREG - TPXimpact Holdings - Appointment of Nominated Adviser and Broker
AnnouncementREG - TPXimpact Holdings - Share Incentive Plan
AnnouncementREG - TPXimpact Holdings - First Half Update & Notice of Results
AnnouncementREG - TPXimpact Holdings - Share Incentive Plan
Announcement