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GlobalData PLC on Tuesday said it had delivered a strong performance for the year ended December 31, ahead of the top end of analysts expectations.
The London-based data, insights, and analytics platform said it is expecting to deliver group revenue of about £242 million, up 28% from £189.3 million the year prior.
The company said it also expects adjusted earnings before interest, taxes, depreciation, and amortization of around £86 million, an increase of 34% from £64.4 million in 2021.
GlobalData said it saw strong momentum in booked revenues in the fourth quarter of 2022, as well as bookings growth of 11% in 2022. Revenue visibility for 2023 was about 80% at January 1, the company noted.
GlobalData added that both revenue and adjusted Ebitda are expected to be ahead of analyst expectations of revenue between £266 million and £276 million and adjusted Ebitda between GBP£97 million and £101 million.
Chief Executive Officer Mike Danson said: ‘The last twelve months have clearly demonstrated that GlobalData continues to provide highly valued, critical information and insights across multiple markets to its global customer base through a unique, scalable platform.’
‘Our confidence is underpinned by high revenue visibility, a stable cost base and excellent cash generation from a platform that delivers value for our customers, our people and shareholders,’ he added.
The company’s full year results will be published on February 27.
GlobalData shares were 9.7% higher trading at 1,300.20 pence per share on Tuesday morning in London.
By Harvey Dorset, Alliance News reporter
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