Mark Braund of REACT: Significant Growth Delivered & Strong Start to the Year
Mark Braund Chairman of discusses their final results for the year, which was the fourth successive year of double-digit organic growth and says the first few months of FY24 have delivered a record trading performance.
Financial highlights
· Revenue increased by 43% to £19.6m (2022: £13.7m)
- 87% recurring revenue (2022: 83%)
- organic revenue growth of approximately 21% (on a like-for-like basis)
- Numerous multi-year contracts won via cross-selling across the Group
· Gross profit up 61% to £5.2m (2022: £3.3m)
· Gross profit margin up 300 basis points to 27% (2022: 24%)
· Adjusted EBITDA* up 133% to £2.3m (2022: £1.0m)
· Free cash flow £2.1m (2022: outflow £1.0m)
· Cash as at 30 September 2023 of £2.1m (30 September 2022: £1.5m)
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