Made Tech Group PLC - London-based provider of digital, data and technology services to the UK public sector - Posts revenue of £20.6 million for the six months ended on November 30, up 76% from £11.7 million the year before. Swings to pretax loss of £1.7 million from a profit of £121,000, as cost of sales jumps to £13.8 million from £7.1 million the year before. Administrative expenses increase to £6.3 million from £3.4 million. Adjusted pretax profit falls 70% to £300,000 from £1.0 million. Contracted backlog amounts to £47.8 million, up 54% from £31.3 million.
Looking ahead, says trading in the third quarter to date is positive, in line with expectations, adding that it remains on track to meet financial 2023 results in line with market view.
Chief Executive Officer Rory MacDonald says: ‘We look ahead with confidence, based on excellent pipeline visibility, strong alignment of cost base with work streams, and good progress on our strategy to broaden and deepen our client relationships and accelerate product development.’
Current stock price: 34.71 pence each, down 9.3% on Thursday around midday in London
12-month change: down 62%
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