Business
Interim results for the 6 months ended 28 Feb 2025
Interim results for the 6 months ended 28 Feb 2025.
About this update from Ten Lifestyle Group Plc
[{"type":"text","content":"\n\n23 April 2025\n \nTen Lifestyle Group plc\n(\"Ten\", the \"Company\" or the \"Group\")\n \nInterim results for the six months ended 28 February 2025\n \nTen Lifestyle Group plc (AIM: TENG), the global concierge technology platform driving customer loyalty for global financial institutions and other premium brands, announces its unaudited interim results for the six months ended 28 February 2025 (\"H1 2025\").\n \nFinancial highlights \n\n· Net Revenue1 of £31.8m, up 3% on the first half of the prior year (H1 2024: £30.9m) and up 5% at constant currency to £32.3m\n\n\no corporate revenue2 of £28.0m (H1 2024: £27.1m)\no supplier revenue3 of £3.8m (H1 2024: £3.8m)\n\n\n· Adjusted EBITDA4 up £0.7m on the first half of prior year to £6.0m (H1 2024: £5.3m) and broadly flat at constant currency\n· Adjusted EBITDA margin5 increased to 18.9% (H1 2024: 17.2%) \n\n· Profit before tax up £0.8m on the first half of prior year to £1.1m (H1 2024: £0.3m)\n· Cash and cash equivalents increased to £11.2m (FY 2024: £9.3m), with net cash increased to £6.8m (H1 2024: £1.9m; FY 2024: £3.9m)\n\nOperational highlights \n\n· Won and launched an Extra Large6 contract in the USA with an existing global client, initially worth £5.0m per year, a Medium contract in AMEA with a new client and two, initially Small contracts\n· £6.6m (H1 2024: £6.4m) total investment in proprietary digital platforms, communications, and technologies, of which £3.2m (H1 2024: £3.7m) is capitalised development spend\n\n\no launched Ten's Agentic AI7 product in beta with end-to-end booking capability over chat, including WhatsApp, and the Ten Platform\no further enhanced Ten's proprietary CRM (Ten MAID), improving high-touch productivity and operational efficiency\n\n o leveraged AI and automation to enhance content and member communications to hyper-personalise the service\n\n· Number of Active Members8 up on the end of the prior year to 354k (FY 2024: 349k)\n· Maintained a high levels of member satisfaction9, which drives repeat use and value to Ten's corporate clients\n\n\n \n\nCURRENT TRADING AND OUTLOOK\n \nSince the end of the period...