AdvancedAdvT (AIM:ADVT) said revenue for the six months to 31 August is expected to be not less than £28.5 million, representing double-digit percentage growth on the prior year.
The London-listed software firm, focused on the business solutions and compliance sectors, said growth came from continued organic expansion across the group plus contributions from acquisitions. Earnings (adjusted EBITDA) is expected to be no less than £8 million, also marking double-digit growth year-on-year, which the company attributed to revenue growth, operational efficiencies and disciplined cost management.
Trading remains in line with management expectations, the company noted.
Net cash and investments stood at £113.2 million as at 31 August, up from £111.6 million at the end of February, comprising £95.2 million of net cash and an £18 million stake in M&C Saatchi plc. That net cash figure is after £9.2 million deployed through the share buyback programme during the period.
"We have a strong financial position, with £113 million of cash and investments," said Vin Murria, AdvancedAdvT's executive chairperson, adding that the group has already completed £10 million of buybacks and initiated a further £10 million programme in September.
The group said it continues to assess complementary acquisition opportunities alongside its focus on organic growth and operational improvement.
AdvancedAdvT expects to publish its half-year results on 2 November.