Elixirr trades 'in line or above market expectations' in 2022

Elixirr stated full-year revenues were projected to be approximately £70.7m, an increase of 40% year-on-year, while adjusted underlying earnings were said to be up from £15.7m to roughly £20.5m and adjusted EBITDA margins were expected to come to 29%, ahead of previous guidance.

The AIM-listed firm said that, as a result of its solid cash performance, it will now propose a final dividend payment for 2022 of 10.8p per share - up 16% year-on-year.

As far as 2023 was concerned, Elixirr expects to report full-year revenues of £85.0m-87.0m, with January already proving to be a record month for the group.

Chief executive Stephen Newton said: "Elixirr delivered growth on all key metrics during FY22. It was particularly pleasing to see the improved value creation from using all four pillars to grow our firm - it is the year that brought our IPO thesis (coupling organic and inorganic growth) to life.

"The turbulent macroeconomic backdrop and our strategic purchases have made Elixirr's services even more relevant at a board level as we help our clients to navigate the changing business environment. The momentum we have delivered in 2022 is accelerating in 2023, and we expect further growth across all our pillars as the year progresses."

As of 1120 GMT, Elixirr shares had surged 23.21% to 517.50p.

Reporting by Iain Gilbert at Sharecast.com