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4Global PLC on Wednesday said it swung to a first half loss, but is confident of meeting market expectations for its full year.
The London-based data, services and software company focused on major sporting events said pretax loss for the first half ended September 30 was £1.2 million, swinging from a profit of £91,041 a year ago.
The company reported first half revenue of £1.4 million, up 10% from £1.3 million a year ago. It expects revenue to be weighted towards the second half. 4Global said: ‘As we enter the final quarter of the financial year, management has confidence in meeting full year market expectations.’
A further £3 million has been booked to date, to be delivered in financial 2022, consisting of ‘significantly higher margin contracts than in the first half’.
The company also said that it had a sales pipeline worth £30 million, of which £7.3 million would fall in financial 2022.
Shares in 4Global were down 0.8% at 61.00 pence each in London on Wednesday morning.
Chief Executive Officer Eloy Mazon said: ‘Recent trading has been strong which provides the management with confidence of achieving revenue and profit growth. This year the group has put in place the key building blocks for accelerating growth within the business.’
By Harvey Dorset, Alliance News reporter
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