Mind Gym PLC on Monday said it is confident looking ahead, after seeing a jump in revenue during the second half of of its just-completed financial year.

Mind Gym is a London-based personal and business coaching service.

It said it expects to report revenue of £54.7 million in the financial year that ended March 31, up 12% from £48.7 million in financial 2022. It expects pretax profit to be ‘broadly’ in line with expectations, without providing figures.

Revenue in the second half of the financial year was up 14% year-on-year, Mind Gym said, demonstrating good momentum from the 11% annual growth in the first half.

Looking ahead, Mind Gym said it remains confident it its prospects, as it has performed ‘robustly’ despite macro-economic headwinds. It noted that during the second half of the financial year, it signed a large framework agreement with a global automotive manufacturer, which is initially expected to deliver at least £2 million over the next 18 months.

Chief Executive Officer Octavius Blac said: ‘We are encouraged by our performance in FY23. Despite macro-economic headwinds, MindGym has increased its growth rate in the second half and won a further important framework agreement. MindGym’s continued strength in Innovation, coupled with a debt free balance sheet, ongoing client wins, and evolving digital pipeline, position it well for FY24 and beyond.’

Mind Gym will provide a further update with its results ton June 14.

Shares in Mind Gym were down 3.9% to 61.00 pence each in London on Monday morning. Over the past 12-months the stock is down 53%.

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