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GlobalData PLC on Monday reported a double-digit rise in revenue for the first half of 2022, but it suffered a slight dip in pretax profit.
For six months that ended on June 30, the London-based data analytics and consulting company said revenue jumped by 23% to £111.9 million from £91.1 million a year earlier.
Pretax profit, however, slid by 6.3% to £15.0 million from £16.0 million. The company booked a 52% increase in amortisation of acquired intangible assets to £4.1 million from £2.7 million a year earlier.
Adjusted earnings before interest, tax, depreciation and amortisation increased by 28% to £39.0 million from £30.7 million a year earlier.
Chief Executive Officer Mike Danson said: ‘The first half of 2022 demonstrated the strength and resilience of our business. The quality of our content continues to drive increases in recurring subscription revenues.’
Invoiced forward revenue grew 37% to £114.6 million from £83.8 million a year earlier, reflecting underlying growth of 13%. This was driven by ‘strong performance of our renewals and new business subscription business’, GlobalData noted.
GobalData declared an interim dividend of 7.7 pence per share, up 26% from 6.1p the year prior.
Shares were down 1.0% at £941.00 pence each on Monday morning in London.
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