4Global PLC on Thursday said its half-year loss narrowed and revenue grew on ‘key’ business wins and partnerships, adding that it is trading in line with full-year market expectations.
The London-based data, services and software company specialising in major sporting events said pretax loss narrowed to £1.0 million in the six months to September 30, from £1.2 million the year before, as revenue grew by 29% to £1.8 million from £1.4 million a year prior.
This was driven by business wins which stand at £3 million in the year-to-date, 4Global said.
Back in October, 4Global announced it was awarded a $250,000 contract from Guadalajara Convention & Visitors Bureau in Mexico, which is one of the sixteen venues of the upcoming 2026 FIFA World Cup.
In addition, it secured a $290,000 contract with its ‘long-standing strategic partner’, Al Jassra Group, in the Middle East.
4Global noted, however, that its revenue generation profile is more significantly weighted towards the second half of the year.
Looking ahead, Chief Executive Officer Eloy Mazon said the company is confident that it is trading in line with full year market expectations. These include £6.7 million in revenue and £1.3 million in adjusted earnings before interest, tax, depreciation and amortisation.
‘This has been a period of expansion and growth through significant business wins, continuing to build on the grow foundations in international markets, strengthening the team and the company’s commercial partnerships,’ added Mazon.
He continued: ‘The rise of artificial intelligence (AI) and the growth of the DataHub has generated significant opportunities for us and I was delighted to see the launch of our first AI insight platform earlier this year as a pilot for one of our biggest customers prior to commercial launch in 2024.’
Shares in 4Global were untraded at 52.04 pence each in London on Thursday morning.
Copyright 2023 Alliance News Ltd. All Rights Reserved.
