The interim TU to December reports revenue growth of 9% (10% on a constant currency basis) compared with our 9% full-year forecasts, in line with unchanged full-year expectations; adj EBITDA and adj PBT (undisclosed) are also as expected. 1H25 revenue of £42.4m, 95% recurring (December 2024: 94%) contributed 49% of the FY25 forecast, in line with FY23 and FY24, reiterating the visibility and earnings quality. The strategic pillars continued to support growth, notably with strategic partnerships’ ....
