Ten Lifestyle Group PLC Full Year Trading Update and Notice of Results (2274A)
22 Septiembre 2022 - 1:01AM
UK Regulatory
TIDMTENG
RNS Number : 2274A
Ten Lifestyle Group PLC
22 September 2022
22 September 2022
Ten Lifestyle Group plc
("Ten" or the "Group")
Full Year Trading Update and Notice of Results
Ten Lifestyle Group plc (AIM: TENG), the platform driving
customer loyalty for global financial institutions and other
premium brands, is pleased to announce a trading update ahead of
announcing its preliminary results for the year ended 31 August
2022.
The Group expects to report Net Revenue (1) of c.GBP46.8m, 35%
above prior year (FY 2021: GBP34.7m) and ahead of market
expectations of GBP45m.
In the second half of the year, Net Revenue was c.GBP26m, a
record for Ten, and c.45% up on the second half of the prior year,
with sequential growth from the third to the fourth quarter.
Adjusted EBITDA (2) is expected to be ahead of the prior year
(FY 2021: GBP4.4m) and in line with market expectations of
GBP5m.
Adjusted EBITDA was c.GBP0.9m in the first half of the year, due
to the adverse effects of Omicron, but improved significantly in
the second half of the year; in line with the Board's
expectations.
The Group ended the financial year with a cash position of
GBP6.8m, with net cash at GBP3.3m, in line with market
expectations. In the last quarter, the Group raised additional
long-term debt of GBP2m, in order to provide a prudent level of
working capital to support organic revenue growth and a number of
anticipated new contract launches in FY 2023.
The Group has continued its investment in technology throughout
the year to drive improvements in service levels, efficiencies and
Ten's competitive advantage.
Notice of Results
The Group expects to announce its preliminary results, for the
year ended 31 August 2022, on 23 November 2022.
The Group will be hosting an analyst presentation to accompany
its preliminary results at 9am on 23 November 2022.
The Group will also be presenting an Investor Webinar for
current and prospective investors at 5:30pm on 30 November
2022.
If you would like to attend either event, please email
investorrelations@tengroup.com.
(1) Net Revenue excludes the direct cost of sales relating to
certain member transactions managed by the Group.
(2) Adjusted EBITDA is operating profit/(loss) before interest,
taxation, depreciation, amortisation, share-based payments and
exceptional items.
- End -
For further information please visit www.tenlifestylegroup.com
or call:
Ten Lifestyle Group plc
Alex Cheatle, Chief Executive Officer +44 (0)20 7850
Alan Donald, Chief Financial Officer 2796
Peel Hunt LLP, Nominated Advisor and Broker
Paul Gillam +44 (0) 20 7418
James Smith 8900
Notes to Editors:
About Ten Lifestyle Group Plc
Ten Lifestyle Group plc ('Ten') partners with global financial
institutions and other premium brands to attract and retain wealthy
and mass affluent customers.
Millions of members have access to Ten's services across
lifestyle, travel, dining, entertainment and retail benefits on
behalf of over fifty clients including HSBC, Coutts, Morgan Stanley
and Royal Bank of Canada. Ten's partnerships are based on
multi-year contracts generating revenue through
platform-as-a-service and technology fees.
Ten's operations are underpinned by an increasingly
sophisticated personalisation platform comprising industry-first,
proprietary technology, thousands of supplier relationships and 25
years of proprietary expertise delivered from 22 global
offices.
Ten is on a mission to become the most trusted service platform
in the world.
For further information please go to:
www.tenlifestylegroup.com.
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END
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