Mind Gym (MIND)

Sector:

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Index:

FTSE AIM All-Share

 30.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 62.50p
  • 52 Week Low: 29.00p
  • Currency: UK Pounds
  • Shares Issued: 100.20m
  • Volume: 63
  • Market Cap: £30.06m
  • RiskGrade: 147

Mind Gym trades as expected through first half

By Josh White

Date: Friday 02 Dec 2022

LONDON (ShareCast) - (Sharecast News) - Human capital and business improvement specialist Mind Gym reported half-year results in line with management expectations on Friday, with year-on-year growth in both constant and actual currency, despite economic uncertainty and the exit from Omicron at the start of the year.
The AIM-traded firm said revenue was up 11% year-on-year in the six months ended 30 September, at £26.8m, with United States revenue growth coming in at 20%, while the Europe, Middle East and Africa (EMEA) geography saw revenue decline 2%, and digitally-enabled revenue was off 7%.

The company's gross profit margin expanded by 1.6 percentage points to 87.5%.

Mind Gym reported a statutory profit before tax of £0.6m for the period, up from £0.02m year-on-year, and compared to a £0.5m loss for the full 2022 financial year ended 31 March.

EBITDA rocketed 271% to £1.9m, as the firm swung to diluted earnings per share of 0.84p, from losses of 0.01p per share in the first half of the prior fiscal period.

Cash at bank was 62% lower at £4.5m on 30 September, while capital expenditure was 21% smaller at £2.2m for the period.

Looking ahead, Mind Gym said its outlook for the full year was unchanged, despite the impact of economic headwinds, notably in the US.

It said its anticipated second-half growth included the benefit of large corporate frameworks.

"We are encouraged by our first-half performance and the significant momentum going into the second half, as a result of securing our largest ever framework agreement," said chief executive officer Octavius Black.

"In a volatile economic environment with a tight labour market, Mind Gym is increasingly well placed as the 'go to' partner to address the talent challenges that all organisations struggle to resolve."

Black said the company's investment in innovation and digital was continuing to deliver.

"New publications on leadership, coaching and wellbeing will set the agenda and equip our clients to invest in ways that transform their business in half the time and for a fraction of the cost.

"Our development of the 'Performa' platform will build momentum for our new one-on-one coaching service in the 2024 financial year, and our new organisational diagnostics solution, currently in beta trials, which furthers our objective to be the primary strategic partner providing an end-to end service for our clients."

At 1137 GMT, shares in Mind Gym were down 2.7% at 90p.

Reporting by Josh White for 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 29.00p
Volume 63
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
27.42% below the market average27.42% below the market average27.42% below the market average27.42% below the market average27.42% 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% below the market average79% below the market average79% below the market average79% below the market average79% below the market average
89.9% below the sector average89.9% below the sector average89.9% below the sector average89.9% below the sector average89.9% below the sector average
Income Not Available
Growth
17.5% below the market average17.5% below the market average17.5% below the market average17.5% below the market average17.5% 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 19-Jul-2024

Time Volume / Share Price
15:29 33 @ 30.50p
10:06 30 @ 33.00p

Mind Gym Key Personnel

CFO Dominic Neary

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