Revenue rises but 4global swings to first-half loss

Sporting-focussed data, software and service provider 4global reported a period of investment and growth through “significant” new business wins in its first half on Wednesday.

The AIM-traded firm said that as expected, its revenue generation profile would be “significantly weighted” to the second half, as in previous years.

As it entered the final quarter of the financial year, its management said it had confidence in meeting full-year market expectations.

Revenue for the six months ended 30 September rose 10% to £1.4m, while it swung to an adjusted loss of £0.8m, from a profit of £0.2m in the same period last year, before it was listed on AIM with a “significantly different” cost base.

4global said it had a “robust” balance sheet, with cash balances of £2.1m, up from £1.4m year-on-year.

“Recent trading has been strong which provides the management with confidence of achieving revenue and profit growth,” said chief executive officer Eloy Mazon.

“This year, the group has put in place the key building blocks for accelerating growth within the business.

“It has a current booked revenue of £4.4m - £1.4m delivered in H1 and £3m to be delivered in the second - with some high margin contracts to be delivered in the second six months of the financial year.”

In addition, Mazon said the company was “actively pursuing” £30m of new opportunities, some of which would fall into the current financial year.

“Our multimillion-dollar client wins with MACE in the Middle East, Technogym, Al Jassra Group and key partnerships with leading sport/physical activity data partners such as Jonas, IHRSA and FICC in North America provide us with confidence and excitement about the continued international expansion of the 4global business.”

At 0901 GMT, shares in 4global were down 0.81% at 61p.

Reporting by Josh White for Sharecast.com.