Revenues of £23.9ml in the six months to 30 September were up 23.5%, as 28% growth in North America outstripped European markets.
This helped the AIM-listed company's pre-tax profit shoot up to £3.9mln from £1.1mln last year, most of which was reinvested in new hires for the senior leadership team, as well as IT infrastructure and more client support and coach recruitment.
Octavius Black, chief executive officer of Mind Gym, was confident in the short and medium-term prospects: “Our strong revenue growth in the first half shows that leading businesses are choosing our proven behavioural science-based solutions over traditional alternatives.”
Mind Gym’s digital offering has grown 36% year-on-year to £5.1mln and now represents 30% of group sales.
“Digital is very scalable and carries a higher margin”, noted broker Liberum Capital, who were also buoyed by management’s belief that “current buying patterns suggest that digital is not cannibalising the existing business”.
Nevertheless, shares were little moved at 161p in early trading on Tuesday.