System1 storms ahead as profits surge
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AIM-listed marketing services provider System1 (LON:SYS1) saw its shares rise by 10.55% to 198.98p (as of 12:50 GMT) after pre-tax profits for the six months to 30th September increased by 27%. This is despite the company making substantial investments in developing a new business arm, which the company warned might have a negative impact on this year’s final dividend.
CEO John Kearon said: “We are excited about our new Ad Ratings service based on our tried and tested core IP – for its future potential both to support the existing consulting business, as well as provide a new scalable revenue stream. Meanwhile we believe that as our new product configurations and more competitive pricing take hold, our existing business will continue to stabilise and in time return to growth“.
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