GlobalData PLC on Wednesday said trading in the second half of its current financial year is in line with market expectations, and announced its acquisition of job market data provider LinkUp.
The London-based analytics and consultancy firm acquired Minneapolis, US-based JobDig Inc, which trades under the name LinkUp, saying this is part of its growth plan.
‘This addition represents further execution against our bolt-on acquisition strategy, adding to the group’s growing strategic intelligence offering as well as strengthening its presence within the financial markets audience,’ GlobalData said.
The company is targeting annual revenue of £500 million by the end of its three-year growth plan, in 2026.
Though GlobalData did not on Wednesday outline what it believes 2024 market expectations to be, broker Peel Hunt forecast revenue of £286 million for GlobalData, which would be a 4.7% increase from £273.1 million last year, and adjusted pretax profit of £100 million, up 36% from £73.6 million.
Chief Executive Officer Mike Danson said: ‘As part of our ongoing efforts to invest and scale our ’one platform’ to make it the best it can be, this complementary acquisition of LinkUp offers our new and existing clients significant value by adding real-time proprietary technology that indexes millions of job listings.’
Shares in GlobalData were up 1.4% at 204.88 pence each in London on Wednesday morning.
Copyright 2024 Alliance News Ltd. All Rights Reserved.
