Tialis Essential IT PLC on Wednesday said it anticipated further improvement in 2024 as it expected revenue to have surged in 2023.

The Edinburgh, Scotland-based IT service management company said it expects revenue of at least £22 million for 2023, up 52% from £14.5 million in 2022.

Further, Tialis anticipated adjusted earnings before interest, tax, depreciation and amortisation of minimum £2 million for 2023, similar to 2022’s results, which had been down 37% from £3.1 million in 2021.

Executive Chair Andy Parker said: ‘2023 saw the successful integration of our first acquisition in over six years and, importantly, another year of profitable growth. We expect further improvement in 2024 across revenue, profit and cash generation as the company continues to look forward with confidence’.

Tialis shares were 0.8% lower at 61.50 pence each in London on Wednesday afternoon.

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