Ten Lifestyle Group PLC Full Year Trading Update (9823M)
20 Septiembre 2023 - 1:00AM
UK Regulatory
TIDMTENG
RNS Number : 9823M
Ten Lifestyle Group PLC
20 September 2023
20 September 2023
Ten Lifestyle Group plc
("Ten" or the "Group")
Full Year Trading Update and
Appointment of Nominated Advisor and Broker
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
publishing its preliminary results for the year ended 31 August
2023 towards the end of November 2023.
The Group expects to report Net Revenue (1) of c.GBP63m,
achieving 35% year on year growth for the second year running
(2022: GBP46.8m; 2021: GBP34.7m). This revenue performance is a
record for Ten and is modestly ahead of market expectations of
GBP62m.
Adjusted EBITDA (2) is expected to be c.GBP12m, up 145% on the
prior year (2022: GBP4.9m; 2021: GBP4.4m). This is in line with
market expectations of GBP11.9m and marks a record level of
profitability for the Group and a significant improvement from
previous years.
The Group ended the financial year with cash and cash
equivalents of GBP8.2m (2022: GBP6.6m) and net cash of GBP3.5m (H1
2023: GBP0.5m; FY 2022: GBP3.2m).
As planned, the Group has continued to invest in technology,
including into Artificial Intelligence, throughout the year to
drive improvements in service levels, efficiencies and Ten's
competitive advantage.
Alex Cheatle, Chief Executive Office of Ten Lifestyle Group plc,
said;
"I am delighted with our performance for the year ended 31
August 2023. We have retained all of our key corporate clients and
achieved record revenue and profitability. We are well positioned
with a healthy pipeline of new business."
Appointment of Nominated Advisor and Broker
Ten is also pleased to announce the appointment of Singer
Capital Markets Advisory LLP as the Group's Nominated Advisor and
Sole Broker, with immediate effect.
(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
Singer Capital Markets Advisory LLP, Nominated
Advisor and Broker
Corporate Finance: James Moat / Oliver Platts
Corporate Broking: Tom Salvesen / Charles +44 (0) 20 7496
Leigh-Pember t on 3000
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 over 20 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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