Chief Commercial Officer and Member of the Executive Committee, BNY | Growth & Transformation | Client Experience Obsessed | Intersection of Business & Technology | Banking & Private Equity
We are delighted to announce our preliminary results for the financial year ended 31 December 2023 today. With a continued adjusted EBITDA of £120.4 million, we have exceeded our guidance of above £117.0m provided in January 2024.
The Group achieved free cash flow breakeven, reflecting improved profitability, well-controlled working capital driven by reduced stock cover and lower cash adjusting items. Our liquidity position remains exceptionally strong with c.£600m of cash and available facilities at year end.
Revenues of £2bn, reflect our efforts in executing our strategic review, as we repositioned several loss-making categories across the Group. This has resulted in strong momentum heading into 2024, and we expect to return to progressive revenue growth throughout the year.
THG Beauty in particular, displayed incredible resilience generating revenue of £1.2bn of revenue over FY 2023. Since 2019, we have seen active customers more than double to 8.5m with revenue from returning customers increasing post Covid to c.85% of online D2C revenue.
We have a strong balance sheet, with c. £600m in cash and undrawn facilities following the extension of our Revolving Cash Facility until May 2026.
The return to Group revenue growth in Q4 was especially pleasing, and this momentum has continued into 2024.
#weareTHG
Nearly half of retail investors have been investing for less than five years, which means they view investing differently and expect different engagement, says Matt (MJ) Joanou of Stakeholder Labs.
Public companies measure and increase shareholder loyalty, but need resources to engage with those shareholders to increase their loyalty. With the rise of retail investors, companies can use the power of self-organized communities as an opportunity to bring new information to retail investors.
Watch the whole discussion right now: https://lnkd.in/euQ3_bqh#MakeItSnapTrade#BenzingaFintechDealDay
No matter your industry or your size: “Approach business with a beginner’s mind.”
🔥 They better grow.
🔥 They better evolve.
🔥 They better innovate.
Check out our iCG Pay blog this week to see how to enhance your business with virtual payments.
#buildbusiness#innovation#fintech#icgpay#paymenttech#whatsnext
EVP Global Creative, Media & Ecosystem @ Kantar (a Bain Capital company) | Podcast Co-Host | AI & Privacy Evangelist | Transformational Leader | Board Member
The brand race: how Chase are breaking the mould💸
Chase has surged ahead as the seventh most valuable brand within financial services, and ranks 62 overall in our global #KantarBrandZ 2024.
With a brand value increase of 40%, the bank’s unique blend of innovation and stability, backed by J.P Morgan, sets it apart in the competitive landscape. Their strategy balances being a disruptive new player while leveraging the trust of an established bank.
Adele Jolliffe and Peter Aitken spoke to Alexander Sword from The Financial Services Forum about how Chase is redefining the market📈
Reach the full article here: https://lnkd.in/gQ44U6zB#InsightsPR#BrandValue#Brand#Marketing