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Ten Lifestyle Group PLC - London-based lifestyle and travel services company - Posts net revenue of £30.9 million for the six months ended on February 28, up 49% from £20.8 million a year earlier. Says the increase is driven by higher activity across the existing business as well as new mandates won and launched. Swings to a pretax profit of £400,000 from a loss of £3.2 million. Adjusted earnings before interest, tax, depreciation and amortisation is £5.0 million, up from £4.1 million. Looking ahead, Ten continues to develop its proposition and technology. Says its expectations for the full financial year are unchanged. Chief Executive Officer Alex Cheatle says: ‘We are pleased to report our first profit before tax since our [initial public offering] in 2017, which provided capital to invest primarily in new geographical markets and technology. Our digital platform is now rolled out in over 40 countries. We reported an impressive 49% net revenue growth year-on-year, meaning Ten is well positioned to continue to drive our growth engine, even as we target sustained cash generation.’ Current stock price: 80.10 pence each, up 1.7% on Wednesday at noon in London 12-month change: up 31% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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