Big Technologies, a remote personal-monitoring company, has announced an impressive growth in its first-half revenue and earnings. This success can be attributed to new contracts and increased sales from existing customers.
For the period ending June 30, the company reported a pretax profit of £9.05 million ($11.2 million), surpassing the £8.86 million generated in the same period last year. Additionally, revenue experienced a significant boost, reaching £27.3 million, reflecting a growth of 19%. This growth was fueled by new contracts in the Asia-Pacific region and Europe, which showed an increase of 27% and 44%, respectively. However, in the Americas, revenue declined by 1.7% due to unfavorable exchange rates.
Adjusted Earnings and Future Outlook
Adjusted earnings before interest, taxes, depreciation, and amortization (Ebitda) also saw a positive surge, rising to £16.1 million from £13.7 million. However, despite this growth, the adjusted Ebitda margin decreased by 100 basis points to 59.1% due to foreign currency movements.
Excitingly, Big Technologies disclosed that it has several new products in the final stages of development, which are expected to be released to customers during the second half of the year.
For the full year, Big Technologies anticipates generating approximately £54 million in revenue with an adjusted Ebitda margin of around 60%. It is important to note that this projection aligns with the lower end of current market expectations for adjusted Ebitda figures, which range from £32.7 million to £34.7 million.
Our Latest News
DiscoverIE Group acquires 2J Antennas Group for €52.5 million, aims to create dominant player in industrial wireless connectivity.
Minerva Foods announces plans to acquire cattle-slaughtering plants in South America, expanding its operations and strengthening its position in the market.
Stock markets in the Asia-Pacific region had a mixed performance on Monday, September 11. While Hong Kong saw losses, the Shanghai Composite Index increased. Hi...