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
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c/o Meare Consulting
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Singer Capital Markets (Nominated Adviser and
Broker)
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Tel: 020 7496 3000
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Philip Davies / Asha Chotai / Sam
Butcher
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KK
Advisory (Investor Relations)
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Tel: 020 7039 1901
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Kam Bansil
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Meare Consulting
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Adrian Duffield
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Tel: 07990 858548
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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.