AdvancedAdvT revenue, earnings to meet half-year expectations
By Josh White
Date: Friday 27 Sep 2024
(Sharecast News) - International software provider AdvancedAdvT said in an update on Friday that it was expecting group revenue to reach £19.5m for the six months ended 31 August.
The AIM-traded firm said adjusted EBITDA was meanwhile set to come in at £4m, in line with the board's expectations.
It said it had net cash and investments totaling £108.3m at the end of August, including £83.3m in net cash and a £25m investment in M&C Saatchi.
"We continue to experience positive momentum, with all the acquired units benefiting from the operational and financial actions implemented since acquisition," said chair Vin Murria.
"Software-as-a-service revenues have shown positive growth, with resource scheduling SaaS revenues recording significant gains."
Murria said that, combined with the firm's focus on customer value, had driven "notable improvements" in both revenue and EBITDA performance.
"Whilst we see numerous opportunities for organic business growth, particularly with AI, automation and SaaS offerings, we remain committed to exploring acquisition opportunities to expand the group."
AdvancedAdvT said it planned to release its full half-year results in mid-November.
At 1229 BST, shares in AdvancedAdvT were up 0.16% at 127.7p.
Reporting by Josh White for Sharecast.com.
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