Home News Ascential Reports Improved Earnings in H1 2020

Ascential Reports Improved Earnings in H1 2020

362
0

Shares in Ascential saw a significant increase of 14% on Friday following the company’s announcement of improved earnings in the first half of the year. The London-listed data-and-analytics company reported a pretax loss of £11.8 million, a significant improvement from the £41.6 million loss reported in the same period last year.

Adjusted pretax profit, which excludes exceptional and one-off items, rose to £49.8 million compared to £48.4 million in the previous year. This positive result was primarily driven by improved adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), which rose to £78.6 million from £67.2 million. The strong performance in the Lions and WGSN units contributed to this growth.

Ascential also experienced a revenue increase, with figures rising from £260.7 million to £307.4 million. The company attributed this growth to strong performance across all segments.

Despite facing macro uncertainty and currency headwinds, Ascential remains confident about its future prospects. Chief Executive Duncan Painter stated, “Our businesses are well-positioned for the year ahead, supported by multiple growth opportunities.”

LEAVE A REPLY

Please enter your comment!
Please enter your name here

  +  67  =  74