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GlobalData PLC on Monday reported an increase in interim revenue and profit, and maintained a positive annual outlook. The London-based data, insights and analytics platform, reported revenue in its first half ended June 30 climbed by 21% year-on-year to £135.9 million, from £111.9 million. Pretax profit was up 59% to £23.9 million, from £15.0 million a year prior. Adjusted earnings before interest, tax, depreciation and amortization increased by 37% to £53.5 million, from £39.0 million the year before. Operating cash flow rose by 12% to £63.0 million, from £56.1 million. Chief Executive Officer Mike Danson said: ‘GlobalData has delivered another period of strong revenue, profit and margin performance during the first half, and we are outperforming our growth optimisation plan objectives to date. Comparing to half year 2020, we have effectively doubled our adjusted Ebitda.’ The company declared an interim dividend of 1.4 pence per share, up 27% from 1.1p a year before. GlobalData said it was set to deliver ‘strong and resilient growth’ in the rest of the year. GlobalData added: ‘Following a strong first half performance and continued momentum into the second half, we remain on track to deliver results in line with increased market expectations for financial 2023. We maintain our ambition of double-digit underlying revenue growth.’ GlobalData said market expectations for revenue were between £275.8 million and £279.3 million, and for adjusted Ebitda between £109.6 million and £114.7 million. That would represent a revenue rise of around 13% at least, and an adjusted Ebitda hike of at least 27%. GlobalData shares were 1.1% higher at 163.30 pence each in London on Monday morning. Copyright 2023 Alliance News Ltd. All Rights Reserved
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