TPXimpact Holdings PLC - London-based IT consulting firm - Posts revenue of £83.7 million for year ended on March 31, up 5.0% from £79.7 million the year before. However, swings to a pretax loss of £20.5 million from a profit of £2.5 million, as operating loss totals £20.9 million, compared to an operating profit of £3.2 million the year before. Incurs a pretax loss from total operations of £19.0 million for the year, compared to a profit of £1.8 million in the previous year. Administrative expenses increase to £40.8 million from £21.7 million the year before.

Chief Executive Officer Bjorn Conway says: ‘After a challenging year, TPXimpact has developed a clear strategy and a comprehensive three-year plan to leverage its strong foundations of successful client delivery and new business wins. The start of FY23 marked the initiation of an internal change program aimed at achieving robust top-line growth in the medium to long term, through the consolidation of component businesses under a unified brand.’

Looking ahead, the firm says trading in the first two months of the new year is in line with expectations, with like-for-like revenue growth of over 5%. Backs financial 2024 outlook with like-for-like revenue growth of 15% to 20%, and adjusted earnings before interest, tax, depreciation and amortisation margins of 5% to 6%.

Current stock price: 34.00 pence each, down 5.6% on Thursday afternoon in London

12-month change: down 76%

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