UK-based managed services provider Tialis reports FY24 results in line with January’s update. Results reflect reduced higher margin project revenue from its largest partner and delays in new contract awards, offset by cost benefits from operational restructuring to deliver flat £2.0m adj EBITDA despite -7% lower revenue to £20.8m at 29% GM (FY23: £22.4m, 30% GM). Early repayment of £4.2m loan notes, funded by a new £4m RCF and £0.3m unsecured loan note, help de-lever the balance sheet with net d ....
