Big Technologies PLC AGM Statement (2337A)

TIDMBIG

RNS Number : 2337A

Big Technologies PLC

23 May 2023

23 May 2023

Big Technologies plc

("Big Technologies" or the "Company" and the "Group")

AGM Statement

Big Technologies plc, the UK-based, remote people monitoring technology company provides the following trading update ahead of its Annual General Meeting ("AGM") in London later today.

At the meeting, Simon Collins, Chair of Big Technologies plc will make the following statement:

"Since the announcement of our full year results, the Board is pleased to report that the Group continues to grow its revenues and that performance over the first four months of 2023 has been in line with expectations.

The pipeline of future opportunities remains strong and the Board is confident of continued growth and cash generation for the year ahead.

In the four months ending April 2023, we have recorded unaudited consolidated revenue of GBP18.5 million, an increase of 33% versus the same period in 2022. This performance, coupled with good visibility into the second half of the year, leads to our expectations for 2023 being unchanged and the Board remains confident of delivering results in line with current market expectations(1) .

Our products and technology deliver benefits for society across the globe. In the criminal justice sector our products facilitate a shift towards rehabilitative community-based sentencing which reduces recidivism and keep communities safer. In the remote care sector our technology helps people live happier, healthier and more independent lives.

Market drivers for continued growth across both sectors remains strong. With our clear strategy and market-leading products, we are well positioned for growth and continued cash generation during 2023 and beyond."

(1) Latest company compiled view of market expectations show adjusted EBITDA of GBP32.7 million to GBP34.7 million (stated before share-based payments).

For further information please contact:

 
                                                       [phone] 
 Big Technologies                                       1910 
 Sara Murray (Chief Executive Officer) 
  Daren Morris (Chief Financial Officer) 
 
                                                       [phone] 
 Zeus (Nominated Adviser and Sole Broker)               5000 
 Jamie Peel / Dan Bate / Kieran Russell (Investment 
  Banking) 
  Benjamin Robertson (Equity Capital Markets) 
 

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May 23, 2023 02:00 ET (06:00 GMT)