4GLOBAL PLC (AIM:4GBL) has reported strong revenue generation in the second half of its financial year and expects to report total revenues of £5.6mln for the year ending March 31, 2023, marking a 55% year-on-year improvement.
Adjusted EBITDA is expected to be “in line with expectations”, though the UK-based data software company did not provide a specific figure in today’s trading update.
As previously reported, 4GLOBAL’s revenue generation profile has been weighted to the second half of the financial year.
The company said its directors are encouraged by growing revenues in the technology business segment, driven by the group’s focus on increasing recurring revenues as a percentage of overall revenues.
4GLOBAL had cash balances of £1.1mln as of March 31, 2023, while accounts receivable and accrued income totalled £3.4mln.
Alongside today’s trading update, 4GLOBAL also announced a change in its house broker to Canaccord Genuity (TSX:CF, LSE:CF).