System1 Group (AIM:SYS1) PLC’s shares soared over 16% after the company forecast a return to profit in the second half of the year with full-year profit now seen slightly ahead of previous expectations.
The AIM-listed firm said during the fourth quarter it made substantial and measurable progress specifically growing Predict Your and Improve Your products to a point where they represented 80% of revenue in the period.
Predict Your (data) revenue grew by 67% on the comparable prior-year quarter to £4.1mln, a quarterly record, and by 40% for the financial year to £13.7mln, while Improve Your (data-led consultancy) revenue increased by 95% over the comparable prior-year quarter and by 29% for the financial year overall.
Standard product revenues grew by 73% on quarter four in the prior financial year and by 38% for the financial year.
Other Consultancy (non-platform) revenue was £5.5mln lower at £6.2mln but grew in the second half compared to the first half following three successive periods of half-on-half reduction.
Total revenue rose by 26% in quarter four and 9% in the second half ending the year at £23.3mln, 3% lower than the previous financial year.
Shares surged to 189.50p each, up 27p or 16.62% in London on Wednesday.