Elixirr delivers confident outlook after record first half

(Sharecast News) - Business consultancy Elixirr International has reported record interim results and reiterated its full-year forecasts, with the outlook bolstered by last week's acquisition of US strategy consultancy TRC.

Elixirr, which transitions from AIM to the Main Market in July, said it delivered "significant outperformance" against the wider consulting market during the six months to 30 June.

The company reported a 35% year-on-year increase in revenues to £71.4m, with record revenues achieved in five of the six months during the period.

Results were helped by unlocking additional value from previous acquisitions, Elixirr said, with £14.7m of cross-sell revenue achieved in the first half, up 78% over last year.

Meanwhile, the number of £1m+ clients increased from 22 last year to 31.

Adjusted EBITDA surged 42% to £21.5m, helped by the adjusted EBITDA margin improving to 30% from 28.5%. Adjusted pre-tax profit was up 38% at £20.1m.

"As we broaden our market access through our growing client base and targeted acquisitions, we remain focused on helping our clients navigate their most critical challenges," said founder and chief executive Stephen Newton.

"With our acquisition of TRC Advisory, we are well-positioned to unlock even greater opportunities for our clients, shareholders and our team in the years ahead."