Business
Preliminary Results 2023
Preliminary Results 2023.
About this update from Ten Lifestyle Group Plc
[{"type":"text","content":"\n\n \nEmbargoed: 07:00hrs 22 November 2023\n \nTen Lifestyle Group plc\n(\"Ten\", the \"Company\" or the \"Group\")\n \nPreliminary results for the year ended 31 August 2023\n \nTen Lifestyle Group plc (AIM: TENG) a leading technology-enabled, global concierge platform for the world's wealthy and mass affluent, is pleased to announce its preliminary results for the year ended 31 August 2023.\n \nFinancial highlights\n· Record Net Revenue1 up £16.2m (35%) to £63.0m (2022: £46.8m)\no corporate revenue2 up £14.5m (35%) to £55.6m (2022: £41.1m)\no supplier revenue3 up £1.7m (30%) to £7.4m (2022: £5.7m)\no increased Net Corporate Revenue Retention Rate4 of 131% (2022: 120%)\n· Step-change in Adjusted EBITDA5 up £7.1m to £12.0m (2022: £4.9m), an 145% improvement\no Adjusted EBITDA margin6 increased by 8.7% to 19.1% (2022: 10.4%) \n· Inflection point with profit before tax up £4.7m to £0.9m (2022: loss £3.8m)\n· Cash and cash equivalents of £8.2m (2022: £6.6m) and net cash of £3.7m (H1 2023: £0.5m; FY 2022: £3.2m)\n \nOperational highlights\n· Active Memb...