GlobalData Shares Slide as Underlying Growth Stalls Despite Tender Offer

GlobalData Plc (LON: DATA) shares fell sharply on Thursday after the data and analytics group flagged sluggish underlying growth and guided to the low end of full-year earnings expectations, overshadowing news of a £30 million tender offer.

The trading update for the six months to 30 June 2026 revealed headline revenue growth of approximately 3%, but stripping out the boost from acquisitions, underlying revenue growth came in at just 1% — a figure investors will view as disappointing given the company’s ambitions. Contracted Forward Revenue growth of 6% also masked underlying growth of only 1%, suggesting limited near-term acceleration.

Adjusted EBITDA growth of 4-5% was reported, but the Group guided towards the low end of full-year consensus (£126m-£134m), attributing this to “planned actions” in the second half aimed at protecting margins — a signal that cost discipline is being prioritised over top-line momentum.

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CEO Mike Danson acknowledged the period had been “challenging” on revenue growth, citing elongated sales cycles amid a tough macro backdrop, particularly in the Healthcare division, where Contracted Forward Revenue actually declined 1%.

While the Board attempted to offset the disappointing growth narrative with capital return news — including an 85p tender offer for up to £30 million, taking total 2026 returns to £45 million — markets appear more focused on the underlying operational weakness than the shareholder-friendly buyback.

The promise of a more detailed “value creation plan” at September’s half-year results, alongside talk of “sum-of-the-parts” value exceeding the current market cap, suggests management recognises the need to rebuild investor confidence after a update light on tangible growth catalysts.