Big Technologies (BIG)

Sector:

IT Services

Index:

FTSE AIM 50

137.00p
   
  • Change Today:
      3.50p
  • 52 Week High: 300.00
  • 52 Week Low: 105.50
  • Currency: UK Pounds
  • Shares Issued: 290.62m
  • Volume: 48,343
  • Market Cap: £398.15m

Big Technologies confident after strong 2022

By Josh White

Date: Wednesday 29 Mar 2023

LONDON (ShareCast) - (Sharecast News) - Remote monitoring specialist Big Technologies reported 2022 revenue of £50.2m in its preliminary results on Wednesday, up 33% year-on-year, driven by new contract wins and an increase in revenues earned from existing customers.
The AIM-traded firm said gross margins were up 170 basis points at 72.5%, which it put down to its "scalable operating model" allowing for increased efficiencies.

Its statutory operating profit was £20.6m, up from £13.8m in 2021, while its adjusted operating profit improved to £27.1m from £17.9m.

The company reported adjusted EBITDA of £30.5m, with its adjusted EBITDA margin increasing to 60.7%.

It generated cash of £25.7m from operating activities, and had a net cash balance of £66.8m at year-end on 31 December.

Looking ahead, Big Technologies said it was positioned with the financial resources needed in place to provide flexibility to continue to invest in the business, and take advantage of the value-enhancing opportunities expected to materialise in the coming years.

The board said it was confident of continued growth and strong cash generation for 2023.

Trading remained in line with the board's expectations, with the firm starting the new financial year well.

"I am very pleased that the group has delivered another year of significant growth against a challenging global macroeconomic backdrop, which includes the ongoing impacts of inflation and supply chain constraints," said chief executive officer Sara Murray.

"We have seen growing demand for our technology products and services, which translated into new contract wins and deployment of a record number of new electronic monitoring devices to customers in the criminal justice sector."

Murray said the successful implementation of a "significant" national monitoring contract in New Zealand received positive feedback from the end customer, and diversified the firm's global footprint, enhancing its reputation.

"Market drivers remain strong and we are confident of maintaining momentum and delivering further growth in 2023 and beyond."

At 0959 BST, shares in Big Technologies were up 1.85% at 248p.

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.

 

BIG Market Data

Currency UK Pounds
Share Price 137.00p
Change Today 3.50p
% Change 2.62 %
52 Week High 300.00
52 Week Low 105.50
Volume 48,343
Shares Issued 290.62m
Market Cap £398.15m

BIG Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
74.54% below the market average74.54% below the market average74.54% below the market average74.54% below the market average74.54% below the market average
33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average
Price Trend
67.09% below the market average67.09% below the market average67.09% below the market average67.09% below the market average67.09% below the market average
63.83% below the sector average63.83% below the sector average63.83% below the sector average63.83% below the sector average63.83% below the sector average
Income Not Available
Growth
15.46% above the market average15.46% above the market average15.46% above the market average15.46% above the market average15.46% above the market average
18.18% above the sector average18.18% above the sector average18.18% above the sector average18.18% above the sector average18.18% above the sector average

BIG Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 7,386 @ 137.00p
16:35 848 @ 137.00p
16:35 1,239 @ 137.00p
16:35 1,111 @ 137.00p
16:35 730 @ 137.00p

BIG Key Personnel

CEO Sara Elizabeth Murray
CFO Daren John Morris

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