REACT Group plc (LON:REAT) Chairman discusses interim results for the six-month period ended 31 March 2024.
In this interview, React Chairman Mark Braund takes us through the company’s impressive financial performance, marking a fifth consecutive year of double-digit growth. Key highlights include a 35% increase in earnings from a 13% rise in revenue, with over 85% of revenue being recurring. Mark discusses margin improvements, strategic contract wins, and significant investments in both personnel and technology.
Mark goes on to explain the strategic choices behind their financial success, such as focusing on high-quality, non-discretionary services, and making deliberate decisions to walk away from large, less profitable contracts. He also highlights their recent contract wins, including a renewed NHS trust contract and significant agreements with major facility management companies, underscoring React Group’s unique position in the market.
Mark talks about React’s strategic investments in their team and technology. Notably, discussing the hiring of a new CFO and other key personnel, as well as the digital transformation of their Ladders Free business to enhance efficiency and service quality.
He expresses strong confidence in the company’s pipeline and the potential for continued growth, promising a robust performance for the remainder of the year and beyond.
