GlobalData increases dividend after 'encouraging' six months

Data and analytics firm GlobalData saw its share price boosted on Monday after the company reported strong unaudited results and a slew of successful acquisitions.

Over the six months preceding 30 June the firm’s revenue has increased by 32% to £75m, with organic revenue growth of 9%, while adjusted profit before tax jumped 34% to £12.6m.

Meanwhile, cash flow from continuing operations increased by 130% to £17.3m compared to the same period in 2017.

Off the back of these positive results the firm has raised its interim dividend to 3.5 pence per ordinary share.

GlobalData completed the £97.3m acquisition of Research Views in April, which has added industry coverage of the energy and financial services, and is “on track” with its integration of both RVL and MEED which were acquired in December.

Bernard Cragg, executive chairman of GlobalData, said: "In the first half much of our focus has been on completing the deal and beginning the integration process of these businesses. It is encouraging that our organic businesses continued to perform well against the backdrop of our recent M&A activity."

GlobalData’s net debt stood at £61.2m at 30 June, up almost exactly double the point it stood at at the same point prior to the acquisitions in 2017.

The AIM traded company said it intends to use acquisitions to become a multi-sector data provider through gaining further coverage and depth.

"During the second half of 2018, we will continue to integrate the newly acquired businesses, combining sales forces, content production and corporate infrastructure and together with the enhanced platform, coverage and user interface we believe we have laid solid foundations for future growth," said Cragg.

GlobalData’s shares were up 6.36% at 627.50p at 1614 BST.