LONDON (ShareCast) - (Sharecast News) - Industry intelligence provider GlobalData said in an update on Tuesday that, after its interim results in August, it continued to deliver a "strong performance" throughout the second half, ahead of the top end of analyst expectations for the full year.
The AIM-traded firm said that as a result, it was now expecting to deliver group revenue of £242m for the 12 months ended 31 December, up from £189.3m in 2021.

Adjusted EBITDA was meanwhile set to have grown to £86m from £64.4m year-on-year, while net debt excluding leases expanded to £252m from £177.6m.

The board said that, given the "strong momentum" in booked revenues during the fourth quarter, bookings growth of 11% in 2022 and 80% revenue visibility for 2023 as at 1 January, it was now expecting revenue to be ahead, and adjusted EBITDA to be "materially" ahead, of current analyst consensus for the 2023 period.

"The last 12 months have clearly demonstrated that GlobalData continues to provide highly valued, critical information and insights across multiple markets to its global customer base through a unique, scalable platform," said chief executive officer Mike Danson.

"We have continued to invest throughout the year in enhancing our single platform and in our people.

"That strategy has delivered another year of profitable growth and further strengthened the foundations of our business for future growth."

Danson said the group was entering the new year in a "strong" position, and anticipated delivering towards the top end of its EBITDA margin target.

"Our confidence is underpinned by high revenue visibility, a stable cost base and excellent cash generation from a platform that delivers value for our customers, our people and shareholders."

At 1452 GMT, shares in GlobalData were up 11.22% at 1,318p.

Reporting by Josh White for Sharecast.com.

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