Kin & Carta PLC - London-based business consultancy - Expects net revenue for financial 2023 ending on July 31 to be flat to about 2% higher compared to the year before. Says the revised. | May 26, 2023
1 H1 Financial highlights • Net revenue from Continuing Operations of £64.1m; down 10% compared to H1 of the prior year including acquisitions. Returned to growth Q2 over Q1. LIKE- FOR- • Record backlog entering H2 • Adjusted profit before tax from Continuing Operations of £2.9m; does not include £3.6m of US government PPP loan forgiveness now expected in H2. This compares to £4.8m of adjusted profit before tax in H1 2020 • Total profit before tax from Continuing Operations of £0.0m (H120 loss: £5.9 million) includes gain of £5.2 million from sale of Hive and Pragma and amortisation of intangibles £4.9m (H1 2020: amortisation of intangibles £4.8m) • Net debt £22.5m (31 January 2020: £39.5m and 31 July 2020: £31.6m), representing a net debt to Adjusted EBITDA ratio of 1.6x