Mind Gym (MIND)

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FTSE AIM All-Share

 30.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 62.50p
  • 52 Week Low: 30.00p
  • Currency: UK Pounds
  • Shares Issued: 100.20m
  • Volume: 0
  • Market Cap: 30.06m
  • RiskGrade: 147

Mind Gym ends first half well above last year

By Josh White

Date: Tuesday 18 Oct 2022

LONDON (ShareCast) - (Sharecast News) - Human capital and business improvement specialist Mind Gym said in an update on Tuesday that it expected to report first-half revenues of £26.8m - 11% higher year-on-year, or 2% in constant currency.

The AIM-traded firm said the United States represented 62% of reported revenues in the six months ended 30 September at actual exchange rates, reflecting both underlying growth in the region and the recent strengthening of the dollar.

Notwithstanding the current economic uncertainty, the group said it was benefitting from its "operating discipline", adding that price increases had helped offset cost inflation.

The group's performance to date was in line with the board's expectations, and guidance for the full 2023 financial year remained unchanged.

Mind Gym said it remained confident in its prospects, offering a "unique range" of performance solutions, and benefitting from a "diverse portfolio" of large clients.

It said it won a number of "significant" framework agreements in the first half, including its largest-ever in respect of an organisation-wide leadership programme at an unnamed global energy company.

Revenues from the client are forecast to be in excess of £10m over the next 24 months, and the other framework agreements were also expected to drive revenues in the second half, into the 2024 financial year.

The company added that it was delivering on its digital strategy to integrate live and digital learning, with the 'Performa' product being "well-received" by clients.

Mind Gym was also seeking to launch its new organisational diagnostics digital product in the second half, which would diagnose client challenges, determine which Mind Gym product solutions would work, and provide "data-backed" insights.

The group said it retained a "strong" financial position to support investments in future growth with net cash, as at 30 September, of £4.5m, including further planned investment in its new digital products in the first half, as its £10m debt facility consisting of a £6m revolving credit facility and a £4m accordion remained undrawn.

"We are encouraged by our first half performance and the significant momentum going into the second half," said chief executive officer Octavius Black.

"In a volatile economic environment, MindGym is showing that it is well placed to meet the dynamic demands of the human capital market.

"Mind Gym's debt free balance sheet, increasing strength in the US market, recent client wins and strong digital pipeline position it well for the remainder of this financial year and beyond."

Mind Gym said it would provide a further update with its half-year results on 2 December.

At 1036 BST, shares in Mind Gym were up 3.11% at 97.95p.

Reporting by Josh White at Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Mind Gym Market Data

Currency UK Pounds
Share Price 30.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 62.50p
52 Week Low 30.00p
Volume 0
Shares Issued 100.20m
Market Cap 30.06m
RiskGrade 147

Mind Gym Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
26.89% below the market average26.89% below the market average26.89% below the market average26.89% below the market average26.89% below the market average
26.09% below the sector average26.09% below the sector average26.09% below the sector average26.09% below the sector average26.09% below the sector average
Price Trend
79.93% below the market average79.93% below the market average79.93% below the market average79.93% below the market average79.93% below the market average
91.92% below the sector average91.92% below the sector average91.92% below the sector average91.92% below the sector average91.92% below the sector average
Income Not Available
Growth
17.65% below the market average17.65% below the market average17.65% below the market average17.65% below the market average17.65% below the market average
19.15% below the sector average19.15% below the sector average19.15% below the sector average19.15% below the sector average19.15% below the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Mind Gym Dividends

  Latest Previous
  Interim Final
Ex-Div 19-Dec-19 01-Aug-19
Paid 15-Jan-20 30-Aug-19
Amount 0.90p 1.60p

Trades for --2024

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Mind Gym Key Personnel

CFO Dominic Neary

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