LONDON (ShareCast) - (Sharecast News) - Business information company GlobalData said on Monday that it expected to report another year of "strong" organic growth, driven by momentum in subscription revenue and further expansion of EBITDA margin.
The AIM-traded firm said it expected like-for-like organic revenue growth for the 2021 financial year to be about 8%, with currency volatility offsetting some gains to finish on revenue of £189m, at an adjusted EBITDA margin of 34%, up from 32% year-on-year and within the consensus range.

It said invoiced forward revenue was expected to finish with like-for-like organic growth of around 9%.

GlobalData said that strong organic growth was augmented with the strategic progress it made through mergers and acquisitions in the last quarter, with the acquisitions of the life sciences business of IHS Markit, LMCA Holdings and LMCI Holdings.

While the timing of the acquisitions meant the financial impact on 2021 was immaterial, the strengthening of the group's capabilities in the life sciences, automotive and agribusiness sectors gave it "greater scale and opportunity" for accelerated momentum in 2022, the board said.

"I am pleased to report that we expect our 2021 results to demonstrate further momentum and that we are on track to report another year of strong revenue growth and adjusted EBITDA margin expansion," said chief executive officer Mike Danson.

"Additionally, the two strategic acquisitions that we completed in the latter part of the year, mean that we enter 2022 with enhanced scale and additional capabilities."

GlobalData said it would publish its full-year results on 28 February.

At 1058 GMT, shares in GlobalData were up 0.77% at 1,425.85p.

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