Marlowe PLC - London-based software & service provider for safety and regulatory compliance - Says trading for the year ending on March 31 is expected to be in line with market expectations with further significant growth in revenue, adjusted profit and adjusted earnings per share. Revenue is expected to be in the region of £475 million for the full year, up 50% year-on-year from £315.9 million. Expects to deliver high single-digit organic revenue growth. Says momentum in the second half of the year has been accelerating, with revenue reaching £222.9 million. Expects this momentum to continue into financial 2024.

Looking ahead, Marlowe says it is on track to achieve financial 2024 run-rate targets of £500 million of revenue and £100 million of adjusted earnings before interest, tax, depreciation and amortisation on an organic basis. Expects adjusted Ebitda to be £87 million in financial 2023.

Back in November, Marlowe reported a 6.1% rise in pretax profit to £1.7m in the six months to September 30, from £1.6 million the year before. Revenue surged 66% to £222.0 million from £134.5 million.

Current stock price: 471.21 pence each, down 5.8% on Tuesday around midday in London

12-month change: down 42%

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