itim Group reports strong progress, significantly ahead of market expectations

itim Group plc (LON:ITIM), a SaaS based technology company that enables store-based retailers to optimise their businesses to improve financial performance, is pleased to announce an unaudited trading update for the financial year ended 31 December 2024.

Highlights

· Revenues increased to £17.9m* (2023: £16.1m) as a result of new contract wins and extensions.

· EBITDA for the year is expected to be up 260% and significantly ahead of expectations at £2.5m* (2023: £0.7m).

· Profit before tax for the year is £175k*, compared to a market expectation of a £700k loss and a loss in 2023 of £1.1m.

· The Group ended the year with cash balances of £3.8m* (2023: £1.9m), significantly ahead of market expectations.

· New five-year contract extension with toy retailer, The Entertainer.

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