Elixirr International PLC (AIM:ELIX) shares jumped higher on Monday after the global award-winning challenger consultancy said that trading for full-year 2022 (FY22) was "strong with all metrics in line or above market expectations".
In an update on trading for the year ended 31 December 2022, Elixirr said, subject to audit, it expects to report FY22 revenue of approximately £70.7mln (FY21: £50.6mln), an increase of 40% in absolute terms year-on-year, with adjusted EBITDA of approximately £20.5mln (FY21: £15.7mln), and an adjusted EBITDA margin of 29%, ahead of previous guidance.
Given its strong cash performance, the company said it will propose a final dividend for FY22 of 10.8p per share, an increase of 16%.
Looking ahead, Elixirr expects FY23 revenue to be £85mln-£87mln, with Q1 currently trading ahead of this and a record revenue month in January 2023. That growth trajectory is also expected to continue into FY24, the company added.
In the statement, Stephen Newton, CEO of Elixirr, commented: "Elixirr delivered growth on all key metrics during FY22. It was particularly pleasing to see the improved value creation from using all four pillars to grow our firm - it is the year that brought our IPO thesis (coupling organic and inorganic growth) to life. The turbulent macroeconomic backdrop and our strategic purchases have made Elixirr's services even more relevant at a board level as we help our clients to navigate the changing business environment. The momentum we have delivered in 2022 is accelerating in 2023, and we expect further growth across all our pillars as the year progresses."
In early morning trading, Elixirr shares were 15.5% higher at 485p.