Business
Trading update
Trading update.
About this update from System1 Group Plc
[{"type":"text","content":"\n\n\n \n\n\n\n \n\n\n 13 July 2023\n\n\n\n \n \nSystem1 Group PLC (AIM: SYS1)\n (\"System1\", or \"the Company\", or \"the Group\")\n \n \nSystem1 today issues an update on trading for the quarter ended 30 June 2023 (Q1).\n \n\n\n\n \n\n\n\n\n\n\n\n\n\n\n\n\n\nRevenue £ million - unaudited\n\n\nQ1 FY24\n\n\nQ1 FY23\n\n\nQ1\n\n\n\n\n\n\n\nJun-23\n\n\nJun-22\n\n\n% YoY\n\n\n\n\nPredict Your (data)\n\n\n4.0\n\n\n3.0\n\n\n36%\n\n\n\n\nImprove Your (data-led consultancy)\n\n\n0.9\n\n\n0.8\n\n\n15%\n\n\n\n\nPlatform Revenue\n\n\n4.9\n\n\n3.7\n\n\n32%\n\n\n\n\nOther consultancy (non-platform)\n\n\n1.3\n\n\n1.5\n\n\n-16%\n\n\n\n\nTotal Revenue\n\n\n6.2\n\n\n5.2\n\n\n18%\n\n\n\n \n \n \nDuring Q1, the Company made further progress towards the strategic objectives that the board set out following the 2022 strategic review, growing standard Predict Your and Improve Your products by 32% versus Q1 FY23 and introducing new ad-testing variants specifically for digital and audio.\n \nPredict Your (data) revenue grew by 36% on the comparable prior-year quarter to £4.0m, and Improve Your (data-led consultancy) revenue increased by 15% over the comparable prior-year quarter to £0.9m, bringing total platform revenue to £4.9m up 32%.\n \nTotal Group revenue grew by £0.9m (18%) on Q1 FY23 including a £0.2m reduction in non-platform consultancy, and growth in the US was in line with the Group.\n \nThe Company scored a series of new customer wins in the quarter. In the US, these included one of the world's largest publicly traded international oil and gas companies, a worldwide employment website, a global chocolate manufacturer, and a significant provider of search and advertising services on the internet. In Europe, the Company has begun working with a multinational manufacturer of luxury vehicles, a leading short-haul airline and an international business software company.\nPartnerships\nDuring the quarter the Company published and road-showed at Cannes and MADfest Lon...