GlobalData Plc (LON: DATA) shares have tumbled almost 15% to 60.90p on Monday morning, hitting new twelve-month lows after the data and analytics group published half-year results, confirming that revenue growth and margins will fall short of previous expectations for the full year.
The stock had already slid sharply in the weeks running into the announcement, falling from around 85p in early September to a low near 68p, before steadying to close at 71.6p on 11 September, the last session before the results were released.
The half-year statement showed revenue up 4% to £162.9m, though underlying growth was just 1%, reflecting elongated sales cycles across the industry.
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Adjusted EBITDA rose 5% to £54.8m, with margin improving to 34%, but management said full-year Adjusted EBITDA is now expected to come in below market consensus, which had pointed to a range of £121.0m to £126.7m.
Chief Executive Mike Danson said the group’s Growth Transformation Plan had delivered structural progress, including a new divisional model, but acknowledged that revenue and growth remained “below our ambitions.”
The company also confirmed £49m returned to shareholders via buybacks and a tender offer during the period, alongside a maintained interim dividend of 0.3p per share.
