FYDec24 revenues are expected to be £35m, +3% ahead of our forecasts, but down -6% y/y. The outperformance was due to Xeim, which delivered £26.1m revs (vs £25.2mE) driven by 5% y/y growth to MW Mini MBA. Meanwhile both Oystercatchers and Econsultancy declined (but by less than expected) having suffered from the tough macro backdrop, as their bluechip customers restructured their marketing teams, delaying training and marketing investment. Meanwhile The Lawyer continues to grow, revs +7% y/y and ....
