Big Technologies (BIG)

Sector:

IT Services

Index:

FTSE AIM 50

 143.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 277.00
  • 52 Week Low: 105.50
  • Currency: UK Pounds
  • Shares Issued: 290.62m
  • Volume: 34,774
  • Market Cap: £415.59m

Big Technologies ends 2023 in line with expectations

By Josh White

Date: Friday 19 Jan 2024

LONDON (ShareCast) - (Sharecast News) - Remote people monitoring technology company Big Technologies said in a trading update on Friday that its performance in 2023 was in line with expectations, with revenue set to reach £55m, up from £50.2m in 2022.
The AIM-traded firm said adjusted EBITDA was projected to be £33m, up from £30.5m year-on-year, also in line with current market forecasts.

Looking ahead to 2024, Big Technologies anticipated the end of its contract for electronic monitoring services with a major customer in Colombia during the first half.

The contract had been subject to short-term renewals since September 2021, and to offset potential revenue losses, Big Technologies said it had secured several new contracts in recent times.

In the latter part of 2023, the company said it made significant strides in expanding its business development efforts within the US market, recognised as the world's largest market for electronic monitoring and substance detection.

Although the investment was expected to drive medium-term sales growth, it was also anticipated to temporarily reduce operating profit margins in the US for 2024, until new sales materialise.

Given those developments, Big Technologies said it expected group sales for 2024 to at least match the levels achieved in 2022.

More comprehensive guidance for 2024 would be provided with its results in March.

"In difficult market conditions, 2023 has seen the group deliver a strong performance with continued growth in sales, profits and our cash reserves," said chief executive officer Sara Murray.

"We continue to invest in the business and in our market-leading suite of monitoring products and expect to see growth in the coming years."

Murray said the firm was "obviously disappointed" with the outcome in Colombia, with a customer that it had served for a number of years.

"We see a pipeline of attractive business opportunities around the globe and will continue to work diligently to replace this revenue stream."

At 1110 GMT, shares in Big Technologies were down 23.28% at 99p.

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 143.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 277.00
52 Week Low 105.50
Volume 34,774
Shares Issued 290.62m
Market Cap £415.59m

BIG Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
74.23% below the market average74.23% below the market average74.23% below the market average74.23% below the market average74.23% below the market average
32.53% below the sector average32.53% below the sector average32.53% below the sector average32.53% below the sector average32.53% below the sector average
Price Trend
40.26% below the market average40.26% below the market average40.26% below the market average40.26% below the market average40.26% below the market average
49.45% below the sector average49.45% below the sector average49.45% below the sector average49.45% below the sector average49.45% below the sector average
Income Not Available
Growth
34.92% above the market average34.92% above the market average34.92% above the market average34.92% above the market average34.92% above the market average
13.25% above the sector average13.25% above the sector average13.25% above the sector average13.25% above the sector average13.25% above the sector average

BIG Dividends

No dividends found

Trades for 18-Jul-2024

Time Volume / Share Price
16:17 1,500 @ 143.12p
14:22 5,000 @ 142.00p
14:22 6,245 @ 142.06p
12:56 10,000 @ 143.75p
12:56 2,750 @ 143.75p

BIG Key Personnel

CEO Sara Elizabeth Murray
CFO Daren John Morris

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