4GLOBAL Plc (LON:4GBL), a UK-based data, services and software company, has issued the following update ahead of the Company’s Annual General Meeting taking place at 10.00 a.m. today.
The current financial year has commenced positively and to date, our business is performing well and in line with market expectations. The Board has confidence in the performance of 4GLOBAL based around positive market trends, increased interest in new commercial partnerships and significant existing customer opportunities (including Jonas and MACE). The Company also expects to continue to see a trend towards international revenue opportunities, especially in the US.
Key highlights of the year to date are set out below:
| · | Year to date, new sales of £2.2m have been secured, of which £1.8m is expected to be recognised within the current financial year ending 31 March 2024. |
| · | Total revenue booked to date in the financial year is £3.3m. The strong performance in H1 2024 reflects new contracts secured and the recognition of revenue/contracts secured in prior periods. |
| · | As per previous years (FY23 H1/H2: 23%/77%), 4GLOBAL is expected to retain a significant H2 weighting to its financial performance, further highlighting the strong performance in H1 2024. |
| · | Revenue mix in the current financial year stands at 58%/42%. Technology vs. Services. |
| · | Sales pipeline of £5.3m. |
Eloy Mazon, Chief Executive Officer of 4GLOBAL commented:
“4GLOBAL continues to go from strength to strength. As a business we are not complacent, however our market and customers continue to have strong demand for both our technology and services. Technology revenue primarily however remains our key focus as we seek to increase our recurring revenue (“ARR”) and margins.”
