TPXimpact earnings jump as it completes turnaround

(Sharecast News) - TPXimpact said on Tuesday that it had completed its three-year turnaround plan after reporting stronger margins, improved cash generation and higher new business wins for the year ended 31 March. The AIM-traded digital transformation group said revenue rose 1% to £78.1m, while adjusted EBITDA increased 54% to £8.6m and the adjusted EBITDA margin expanded to 11.0% from 7.3%.

Reported operating profit was £0.2m, compared with an £8.7m operating loss a year earlier, while net debt excluding leases halved to £4.2m.

TPXimpact said new business wins rose to £122m from £70m, including contracts with DEFRA, NHS England, HM Land Registry and HM Prison and Probation Service.

Chief executive Bjorn Conway said the company had been reshaped into "a more profitable, resilient and cash-generative organisation", with the group targeting double-digit revenue growth, adjusted EBITDA of at least £12m and zero net debt by the end of FY27.

At 1215 BST, shares in TPXimpact Holdings were up 6.92% at 65.76p.

Reporting by Josh White for Sharecast.com.

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