4GBL 4global Plc

TIDM4GBL

RNS Number : 7437N

4GLOBAL PLC

27 September 2023

27 September 2023

4GLOBAL PLC

("4GLOBAL" or the "Company")

Trading Update

4GLOBAL, a UK-based data, services and software company, issues the following update ahead of the Company's Annual General Meeting taking place at 10.00 a.m. today.

The current financial year has commenced positively and to date, our business is performing well and in line with market expectations. The Board has confidence in the performance of 4GLOBAL based around positive market trends, increased interest in new commercial partnerships and significant existing customer opportunities (including Jonas and MACE). The Company also expects to continue to see a trend towards international revenue opportunities, especially in the US.

Key highlights of the year to date are set out below:

 
 --   Year to date, new sales of GBP2.2m have been secured, of 
       which GBP1.8m is expected to be recognised within the current 
       financial year ending 31 March 2024. 
 --   Total revenue booked to date in the financial year is GBP3.3m. 
       The strong performance in H1 2024 reflects new contracts 
       secured and the recognition of revenue/contracts secured 
       in prior periods. 
 --   As per previous years (FY23 H1/H2: 23%/77%), 4GLOBAL is 
       expected to retain a significant H2 weighting to its financial 
       performance, further highlighting the strong performance 
       in H1 2024. 
 --   Revenue mix in the current financial year stands at 58%/42%. 
       Technology vs. Services. 
 --   Sales pipeline of GBP5.3m. 
 

Eloy Mazon , Chief Executive Officer of 4GLOBAL commented:

"4GLOBAL continues to go from strength to strength. As a business we are not complacent, however our market and customers continue to have strong demand for both our technology and services. Technology revenue primarily however remains our key focus as we seek to increase our recurring revenue ("ARR") and margins."

For further information please contact:

 
 4GLOBAL                                          c/o IFC Advisory 
  Eloy Mazon (CEO) 
 
   Spark Advisory Partners - Nominated Adviser 
   Neil Baldwin                                     0203 368 3554 
 
   Canaccord Genuity Limited - Broker 
   Bobbie Hilliam                                   020 7523 8000 
 
   IFC Advisory 
   Graham Herring / Zach Cohen                      0203 934 6630 
 

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(END) Dow Jones Newswires

September 27, 2023 02:00 ET (06:00 GMT)

4global (LSE:4GBL)
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4global (LSE:4GBL)
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