4GLOBAL PLC (AIM:4GBL) enjoyed a 26% year-on-year bump in revenues to £1.8 million for the six months ending 30 September, with operational leverage generating gross profit margins upwards of 60%.
The UK-based sports-focused data, services and software company booked an adjusted loss of £600,000, marking a 25% year-on-year improvement.
4Global’s interim results met the company’s expectations because of new business wins and global partnerships across the UK, Middle East and North America.
The company’s DataHub data asset grew to 35 million unique individuals and over four billion data points as a result of increasing the number of sports health and activity data sources being integrated through new customers into the platform.
Combining robust growth in the DataHub offering with the use of artificial intelligence (AI) has allowed 4Global to secure significant new contracts with its partners in the Middle East.
"Trading has been strong and the board is delighted with the performance of the business in the first half of the year,” said Eloy Mazon, chief executive of 4Global.
Mazon said it has been “a period of expansion and growth through significant business wins, continuing to build on the growth foundations in international markets, and strengthening the team and the company's commercial partnerships”.
Market expectations for the full year stand at total revenues of £6.7 million and underlying earnings of £1.3 million.
“The board is encouraged by the continued strong demand for the company's products and, with four months to go to the end of the financial year, is confident that it is trading in line with market expectations for the full year,” said Mazon.