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Elixirr International (ELIX) Shares Surge As Pretax Profit Jumps

Sam Boughedda trader
Updated 27 Sep 2021

AIM-quoted Elixirr International (LON: ELIX) has seen its shares rise Monday after reporting unaudited interim results for the six months ended 30 June.

Elixirr reported a strong rise in pretax profit, coming in at £6.4 million for H1, representing a 145% rise from the £2.6 million reported in the first half of 2020. 

Revenue increased 77% from £13.5 million last year to £24 million in the first half of 2021. The company said it reported record revenue in five of the first six months of 2021. 

The consultancy firm upgraded its full-year expectations due to a strong pipeline for the remainder of the year. Revenue is now expected to be between 47 million and £50 million with an Adjusted EBITDA margin in the 30-32% range.

Stephen Newton, CEO of Elixirr International, said: “The progress across all four pillars of our growth strategy has been fantastic in the first half of the year with a particular highlight being our US growth, which is a key market for our business, and I'm delighted with the developments over H1 21. 

“Our inorganic growth has also been immensely successful as we have continued to prove the significance of our unique House of Brands model, which continues to be value enhancing across the entire spectrum of our business.”

On Monday, the company's shares are one of the biggest movers in London, up 26.94% at 665p, adding to its 98.35% year-to-date gains.

Should you invest in Elixirr International shares?

Elixirr International shares are traded on the London stock exchange's AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are Elixirr shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies

Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.