LONDON (ShareCast) - (Sharecast News) - Data, analytics, and insights platform GlobalData said in a full-year update on Thursday that after its interim results at the end of July, it sustained robust profitable growth during the second half.
The AIM-traded firm said it anticipated achieving full-year group revenue of £273m, marking 12% annual growth, or 7% on an underlying basis, compared to £243m in 2022.

It flagged adjusted EBITDA growth of 28% to £111m, up from £86m a year earlier.

The EBITDA margin for 2023 stood at 41% - a notable increase from the 36% reported in the prior year.

On 21 December, GlobalData unveiled a new growth plan and a strategic group reorganisation into three customer-focussed divisions - healthcare, consumer and technology.

At the same time, it initiated a transaction to divest a minority stake in its healthcare business, which contributed 36% of its revenue.

The stake was valued at £1.12bn, resulting in net cash proceeds of £434m.

GlobalData said the transaction was progressing as expected, and was set to be completed in the second quarter.

"Over the last year, GlobalData has continued to execute on its growth optimisation plan and provide its global customer base with mission-critical insights and analysis," said chief executive officer Mike Danson.

"The result of this is we exited 2023 with another period of strong profitable growth and an EBITDA margin of more than 40%.

"As we look ahead, we enter 2024 with a new growth plan and operating structure, which when added to our strong financial position, allows GlobalData to pursue a more ambitious growth strategy across the three divisions and create substantial value over the medium term."

GlobalData said it would announce its 2023 results in full on 4 March.

At 1310 GMT, shares in GlobalData were down 3.04% at 207p.

Reporting by Josh White for Sharecast.com.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE