Financial Performance

Revenue Highlights: Continuing Operations

Group revenue
Group revenue increased by 33% to £157.6m (2017: £118.6m)

Organic revenue
Underlying organic revenue growth of 9%, on a constant currency basis

 Forward revenue
Invoiced forward revenue increased by 34% to £81.4m (2017: £60.6m)

Adjusted EBITDA(1)
increased by 38% to £32.2m (2017: £23.4m)

 Adjusted EBITDA margin(1)
of 20.5% (2017: 19.7%)

 Cash from operations
of £25.1m (2017: £14.2m)

 Final Dividend
of 7.5p per share (2017: 5.0p); total dividend of 11.0p per share, up 38% from the previous year (2017: 8.0p)

Statutory loss before tax
of £7.7m (2017: loss of £0.8m), which is inclusive of non-cash charges of £20.4m from amortisation of acquired intangibles, £5.7m share based payments and £1.4m of unrealised operating foreign exchange losses.

 Net debt(2)
of £64.1m (2017: £43.0m)

Note 1: Adjusted EBITDA: Earnings before interest, tax, depreciation and amortisation, unrealised operating exchange rate movements, impairment, share based payments, adjusted for costs associated with derivatives, acquisitions and restructuring of the Group. Adjusted EBITDA margin is defined as: Adjusted EBITDA as a percentage of revenue.

Note 2: Net Debt: Short and long-term borrowings less cash and cash equivalents.