Business
Final Results for the year ended 31 March 2024
Final Results for the year ended 31 March 2024.
About this update from Adsure Services Plc
[{"type":"text","content":"\n\n \n \n \n \n29 July 2023\n \nAdsure Services PLC\n(\"Adsure Services\", \"the Company \")\nFinal Results for the year ended 31 March 2024\nAdsure (AQSE:ADS), the holding company for TIAA Limited (together \"the Group\"), a specialist business assurance provider operating across the Housing, Healthcare, Government, Education, Charities, and other sectors, is pleased to announce its inaugural consolidated final results for the year ended 31 March 2024.\nThe Group offers a wide range of services through its two operational divisions, Risk & Assurance and Risk & Advisory. TIAA Limited has been providing business assurance services for over 20 years.\n \nFinancial Highlights\n \n• Listed on the Aquis Stock Exchange;\n• Total Revenue of £9.3M (2022/23 - £8.99m);\n• Removal of encumbered asset charge;\n• 72% increase in profit before taxation to £471K (2022/23 - £274K);\n• Cash balances remain strong at 31 March 2024 at £1.067M (2022/23 - £1.859M);\n• Earnings before Interest, Tax, Depreciation and Amortisation (EBITDA) of £876K (2022/23 - £657K) an increase of 33%;\n• EBITDA margin of 9.4% in 2023/24 (7.31% in 2022/23).\n \nOperational Highlights\n \n• Successfully delivered objectives set in the first year of the new Corporate Plan for 2023/24 - 2027/28;\n• Restructured our Corporate Services functions for more efficient and effective back-office services;\n• Implemented a sector led approach to business development;\n• Expansion of our Advisory Practice with significant awareness raised of our brand;\n• Awarded an Innovate UK grant to develop our Artificial Intelligence (AI) capabilities to assist our current and prospective clients wit...