Big Technologies PLC - UK-based remote people monitoring technology company - Posts revenue of £50.2 million for 2022, up 34% from £37.6 million in 2021. Says the increase is driven by new contract wins and an increase in revenue earned from existing customers. Pretax profit rises 53% to £21.0 million from £13.7 million, as operating profit goes up to £20.6 million from £13.8 million a year earlier. Adjusted earnings before interest, tax, depreciation and amortisation amounts to £30.5 million, up from £20.6 million a year earlier. Looking ahead, says it is confident of continued growth and strong cash generation during 2023 and beyond. Big Technologies has started the new financial year well and trading is in line with expectations.

Chief Executive Officer Sara Murray says: ‘I am very pleased that the group has delivered another year of significant growth against a challenging global macroeconomic backdrop, which includes the ongoing impacts of inflation and supply chain constraints. We have seen growing demand for our technology products and services, which translated into new contract wins and deployment of a record number of new electronic monitoring devices to customers in the criminal justice sector.’

Current stock price: 247.40 pence each, up 1.6% on Wednesday around midday in London

12-month change: down 3.0%

Copyright 2023 Alliance News Ltd. All Rights Reserved.