Facilities by ADF FY revenue and EBITDA seen ahead of expectations

Serviced production facilities provider Facilities by ADF said on Friday that full-year revenues and adjusted underlying earnings were both projected to be ahead of current market expectations.

Facilities by ADF stated that following a "strong close" to 2021, and subject to audit, it currently expects to report revenues of roughly £27.8m and an adjusted EBITDA of no less than roughly £7.5m.

The AIM-listed firm said market dynamics continued to be "strong", with continued "robust demand" for film and high-end television in the UK.

ADF added that it continued to have strong order visibility for the current financial year as well as a growing order book for 2023.

Chief executive Marsden Proctor said: "I'm very pleased with the start we have made as a public company. We have an excellent customer base and a market backdrop which is seeing vast amounts of investment in the UK film and HETV industry."

As of 1310 GMT, Facilities by ADF shares were up 0.45% at 83.38p.