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SimplyBiz revenues dip in 2020 but profits hold up

SimplyBiz revenues dip in 2020 but profits hold up
By
Sonia Rach
26
th January 2021
8:55 am
SimplyBiz has seen revenues fall slightly in the year of the pandemic, despite its efforts to control costs and the use government assistance packages.
Revenues for the support services group stood at £61m for the 12 months to 31 December 2020, compared to £63m in 2019.
However, despite lower revenues, its adjusted EBITDA margin remained unchanged from the previous year at 28.3 per cent.
It also showed “robust” cashflow conversion which the group expects to top 65 per cent, a significant rise from 46 per cent in the previous year.
SimplyBiz’s net debt position stood at £19m, a reduction from the £27m in 2019, which the group maintains is a “comfortable” net debt to EBITDA leverage ratio, at 1.1 times versus 1.5 times. ....

Matt Timmins , Simplybiz Group , Obiz Group , மேட் டைமின்கள் , பிஸ் குழு ,

SimplyBiz revenues fall | 26 January 2021 | Stock Market Wire

26 January 2021 | 13:46pm
StockMarketWire.com - Fintech and support services provider SimplyBiz said revenue was £61 million for the year ending December 2020, down 3.5% from £63 million in 2019.
Adjusted earnings before interest, tax, depreciation, amortisation, share option charges and operating exceptional costs remained 28.3%, while net debt fell to £19.5 million, down from £27 million the previous year.
The board intends to recommend a final dividend of 2p per share, compared to 2.85p the previous year.
Matt Timmins, joint CEO of The SimplyBiz Group, said: ‘We are delighted to have delivered a resilient trading performance in a challenging year, demonstrating the robust nature of our core revenues and an ongoing improvement in the quality of our underlying earnings, offsetting an expected reduction of valuation income in the period. ....

Matt Timmins , Simplybiz Group , Simplybiz Group Plc Ord Gbp , மேட் டைமின்கள் ,