Itim Group is making waves with outstanding financial performance, exceeding market expectations and delivering substantial growth. The SaaS-based technology firm, which empowers store-based retailers to optimise operations and enhance profitability, has reported unaudited gains for the year ending December. However, the leadership landscape is shifting, as chairman Michael Jackson steps down with immediate effect after a decade at the helm.
The company’s revenue surged to £17.9 million, up from £16.1 million, driven by new contract wins and extensions. The most impressive achievement was a staggering 260% leap in core earnings (EBITDA), reaching £2.5 million compared to £0.7 million in 2023. Additionally, pre-tax profit climbed to £175,000, a significant turnaround from the £1.1 million loss recorded in the prior year.
Itim also ended the year with a strengthened cash position, doubling its balance to £3.8 million. This robust financial footing further underscores the company’s strong operational execution and market confidence.
Despite these impressive results, the boardroom saw a shift as chairman Michael Jackson stepped down after 10 years of leadership. No specific reason was provided for his departure, but CEO Ali Athar acknowledged his instrumental role in guiding the company through its IPO and laying the groundwork for future growth.
Athar expressed pride in the company’s performance, attributing the success to the dedication of the team and the growing demand for Itim’s solutions in the retail industry. He highlighted the firm’s ability to drive cost efficiencies for clients as a key factor in sustaining momentum. While remaining aware of broader market challenges, Athar remains confident in Itim’s strategy, continued growth, and long-term potential.
itim Group plc (LON:ITIM) is a SaaS-based technology company that enables store-based retailers to optimise their businesses to improve financial performance and effectively compete with online competitors. Itim adds retail value by helping multi-channel retailers optimise their business and their stores to improve financial performance and compete more effectively with the “Amazons”.
