Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Trustpilot Group PLC on Thursday reported a rise in revenue for 2023, as it launched a fresh share buyback programme.
Trustpilot shares jumped 20% to 175.30 pence each on Thursday morning in London.
The Copenhagen-based consumer reviews platform said in 2023, expected revenue jumped 18% to $176 million from $149 million in 2022.
Annual recurring revenue is set to have climbed 22% to $197 million from $162 million. Meanwhile, total bookings are anticipated to have grown 18% to $195 million from $165 million.
Chief Executive Officer Adrian Blair said: ‘Building on a solid performance in the first half of the year, we achieved further growth and margin improvement in the second half, with profitability and positive free cash flow ahead of expectations for the year. In addition to our focus on delivering sustainable operating leverage, we achieved robust growth in new business and a resilient retention rate across all regions.’
Further, Trustpilot started a share buyback programme of up to £20 million, the sole purpose of which is to reduce share capital.
The company will release its 2023 results on March 19.
Copyright 2024 Alliance News Ltd. All Rights Reserved.