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GlobalData PLC on Monday said its profit and revenue rose across 2022, significantly raising its total dividend as a result, while it believes it has entered 2023 from a position of strength and expects further growth. The London-based data, insights and analytics platform said pretax profit in 2022 was £38.4 million, up 18% from £32.6 million a year earlier. This was in line with revenue increasing 28% to £243.2 million from £189.3 million in 2021, offset by widening operating expenses to £186.6 million from £150.8 million and multiplying net finance costs to £17.6 million from £5.6 million. As a result of improving performance, GlobalData upped its total dividend for the year by 35%, rising to 26.0 pence per share from 19.3p in 2021. Shares in GlobalData were down 3.6% to 1,190.0 pence each in London on Monday morning. Meanwhile, net bank debt at December 31 widened by 41% to £249.6 million from £177.6 million a year earlier. ‘The resilient nature of our business model underpins confidence in our ability to continue to achieve double-digit revenue growth, significant margin progression and to pay a progressive dividend,’ said Chief Executive Officer Mike Danson. ‘We enter 2023 in a position of strength with visibility on more than 80% of our FY23 revenue guidance, giving us the confidence for both growth and margin expansion into 2023 and beyond. ‘With a strong business model and differentiated product, GlobalData is well placed to capitalise on the multiple levers open to us to create long-term compounding growth and shareholder returns in the year ahead and beyond.’ Copyright 2023 Alliance News Ltd. All Rights Reserved.
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