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AdvancedAdvT Limited (AIM: ADVT) published a trading update for the six months ended 31 August 2024. The company expects group revenue of approximately £19.5m and Adjusted EBITDA of approximately £4m for the period. As of 31 August 2024, net cash and investments totalled £108.3m, comprising £83.3m net cash and a £25m investment in M&C Saatchi plc.
| Date | 27 Sept 2024 |
| Time | 07:00:07 |
| Category | Trading updates |
| ID | 9023F |
27 September 2024
AdvancedAdvT Limited
Half year trading update
AdvancedAdvT Limited (AIM: ADVT, "AdvT", "the Group"), the international software solutions provider for business, compliance and resource management, has published a trading update for the six months to 31 August 2024.
Group revenue is expected to be in the order of £19.5m, with Adjusted EBITDA1 expected to be in the order of £4m, trading in line with the Board's expectations.
Net cash and investments on 31 August 2024 totalled £108.3m, comprising net cash of £83.3m and £25m held as an investment in M&C Saatchi plc.
AdvT expects to publish its half year results in mid-November 2024.
Vin Murria, AdvancedAdvT's Executive Chairperson, said
"We continue to experience positive momentum, with all the acquired units benefiting from the operational and financial actions implemented since acquisition.
"SaaS revenues have shown positive growth, with Resource Scheduling SaaS revenues recording significant gains. This combined with our focus on customer value has 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."
1. Adjusted EBITDA as defined in the financial statements including plc costs but excluding non-trading costs such as Acquisition costs
Enquiries:
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AdvancedAdvT Limited |
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Vin Murria, Chairperson Gavin Hugill, Chief Financial Officer |
c/o Meare Consulting |
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Singer Capital Markets (Nominated Adviser and Broker) |
Tel: 020 7496 3000 |
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Philip Davies / Asha Chotai / Sam Butcher |
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KK Advisory (Investor Relations) |
Tel: 020 7039 1901 |
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Kam Bansil |
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Meare Consulting |
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Adrian Duffield |
Tel: 07990 858548 |
Note to Editors
AdvancedAdvT Limited (AdvT) provides software solutions and platforms across: business, compliance solutions for the Public Sector and Healthcare, and Resource Management solutions, and human capital management for global corporations.
AdvT is an agent for change. The Group enables the delivery of Artificial Intelligence ("AI"), data analytics and business intelligence, all of which are key future drivers for growth in these sectors where long term digitisation trends are set to transform the workplace for professionals.
AdvT is developing both organically and through acquisitions, by expanding its presence across adjacent markets, geographical boundaries and digital sectors.