4Global FY revenues seen higher on strong H2 trading performance

15th May 2024 10:42

(Sharecast News) - Data and technology company 4Global said on Wednesday that full-year revenues were on track to grow following a "strong" H2 trading performance.

4Global now expects to report full-year revenue growth of roughly 14% to approximately £6.4m and said that due to higher-than-expected revenue generated from higher-margin solutions products, adjusted underlying earnings were pegged to exceed market expectations - increasing by approximately 30% to about £1.6m.

The AIM-listed group also noted that it has invested in "an exciting pipeline of new solutions and platform products", which was expected to continue to drive revenue growth, increase recurring revenues and improve margins. 4Global added that revenues were expected to continue to be second-half weighted as in historical periods.

Chie executive Eloy Mazon said: "This has been a year of significant strategic progress, with substantial expansion into international markets and the successful migration to higher margin solutions and platform revenue driving double-digit sales growth and an outperformance of market expectations for profitability.

"Supported by a strong pipeline of new products, we are confident FY24/25 will be characterised by further operational progress and both revenue and margin growth."

As of 1040 BST, 4Global shares were 15.52% higher at 55.45p.

Reporting by Iain Gilbert at Sharecast.com