Business
Unaudited Preliminary Results
Unaudited Preliminary Results.
About this update from Public Policy Holding Co., Inc.
[{"type":"text","content":"\n\n \nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ('MAR'). Upon the publication of this announcement via a Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.\n \nPublic Policy Holding Company, Inc.\n \n(\"PPHC\", the \"Group\" or the \"Company\")\n \nUnaudited Preliminary results for the year ended 31 December 2023\n \nRecord financial performance and excellent strategic progress with acquisitions deepening geographic reach and policy expertise\n \nPublic Policy Holding Company, Inc., the government relations and public affairs group providing clients with a fully integrated and comprehensive range of services, is pleased to announce its unaudited full year results for the year ended 31 December 2023.\n \nFinancial Highlights\n· Revenue increased 24.1% to a record $135.0m (2022: $108.8m), growing by 2.0% organically, displaying the inherent strength of the Group through the economic cycle\n· Underlying EBITDA rose by 12.4% to $35.1m (2022: $31.2m), in line with market expectations and achieved at a margin of 26.0%, within the Group's target range of between 25% and 30%\n· Underlying Net Income increased by 13.9% to $26.5m (2022: $23.3m)\n· Balance sheet remains strong with cash generated from operations of $21.6m and a year-end net cash position of $3.4m, comprising $14.3m cash offset by outstanding debt of $10.9m, reflecting very low leverage levels and positioning the Group well to deliver further value accretive M&A\n· Declaration of a final dividend of $0.097 per Common Outstanding Share, taking the total dividend for 2023 to $0.143 per share, representing an increase of 2% year-on-year and in line with the Group's dividend policy\n \n\n\n\n\nAll in $m, unless otherwise noted\n\n\n2023\n\n\n2022\n\n\nChange\n\n\n\n\nRevenue\n\n\n135.0\n\n\n108.8\n\n\n24.1%\n\n\n\n\nEBITDA - Underlying\n\n\n35.1\n\n\n31.2...