Financial Performance

Revenue Highlights: Continuing Operations

Group revenue
underlying revenue grew by 8% (5% reported growth)

Subscription revenue
underlying subscription revenue grew by 9% (6% reported growth)

Invoiced forward revenue
increased by 3% to £83.8m (30 June 2020: £81.3m) 

Adjusted EBITDA(1)
increased by 13% to £30.7m (30 June 2020: £27.2m)

 Adjusted EBITDA margin(1)  of 34% (30 June 2020: 31%)

 Cash from operations
of £40.8m (30 June 2020: £40.2m)

Interim Dividend of 6.1 pence per share (30 June 2020: 5.4 pence per share)

Statutory profit before tax
of £16.0m (30 June 2020: £9.3m), which is inclusive of non-cash charges of £2.7m from amortisation of acquired intangibles and £4.7m share based payments charge

 Net debt(2)
of £47.1m (31 December 2020: £58.1m)

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

Note 2: Net debt: Short and long-term borrowings (excluding lease liabilities) less cash and cash equivalents.