Ten Lifestyle Group PLC Trading Update and Notice of Half-Year Results (7926S)
March 19 2021 - 2:00AM
UK Regulatory
TIDMTENG
RNS Number : 7926S
Ten Lifestyle Group PLC
19 March 2021
19 March 2021
Ten Lifestyle Group plc
("Ten" or the "Group")
Half-Year Trading Update and Notice of Half-Year Results
Ten Lifestyle Group plc (AIM: TENG), a leading
technology-enabled, global concierge platform for the world's
wealthy and mass affluent, announces a trading update for the six
months ended 28 February 2021 ahead of its half year results, which
will be announced on Thursday 13 May 2021.
-- Net Revenue(1) in H1 of c. GBP17.4m; with demand subdued for
core dining, travel and live entertainment services throughout the
period.
-- Adjusted EBITDA(2) in H1 broadly in line with the Board's expectations.
-- Net cash at the end of H1 of GBP8.2m (FY 2020: GBP10.0m).
-- The Group's future performance is closely linked with the
nature of the global COVID-19 recovery, by region. Whilst demand is
beginning to return in some countries, the continuing effects of
COVID-19 globally, combined with the recent strengthening of
Sterling, is expected to delay the recovery of Net Revenue and
Adjusted EBITDA in the second half of the financial year.
-- The Group continues to agree contract renewals with existing
corporate clients and develop a strong pipeline of new
business.
-- The Group continues to invest in its proprietary digital
platforms and its digital transformation.
(1) Net Revenue excludes the direct cost of sales relating to
certain member transactions managed by the Group.
(2) Adjusted EBITDA is post-IFRS16 and is operating
profit/(loss)/ before interest, taxation, amortisation, share-based
payments and exceptional costs.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/ 2014. For the purposes of
MAR and Article 2 of Commission Implementing Regulation (EU)
2016/1055, this announcement is being made on behalf of Ten by Alan
Donald, Chief Financial Officer of Ten.
Analyst Presentation
An online analyst presentation will be held by video link at
9:00am on 13 May 2021 following the release of the Group's half
year results. To attend, please email
investorrelations@tengroup.com.
The Group will also be presenting an Investor Webinar for
current and prospective investors at 5:30pm on 17 May
2021. If you would like to attend, please email investorrelations@tengroup.com .
For further information please visit www.tenlifestylegroup.com/
or call:
Ten Lifestyle Group plc
Alex Cheatle, Chief Executive Officer +44 (0)20 7850
Alan Donald, Chief Financial Officer 2796
Peel Hunt LLP, Nominated Advisor and Broker
Edward Knight
Paul Gillam +44 (0) 20 7418
Nick Prowting 8900
Notes to Editors:
About Ten Lifestyle Group Plc
Ten Lifestyle Group Plc is a leading technology-enabled, global
concierge platform, helping wealthy and mass affluent individuals
and their families to discover, organise, and enjoy dining, live
entertainment, travel and premium retail (and other relevant
services) with better results and quicker than they could
themselves.
Underpinned by industry-first technology, Ten provides its
trusted concierge services to its more than 2 million members,
24/7, 365 days a year, wherever they are in the world. Founded in
1998, the business listed on the AIM market of the London Stock
Exchange in November 2017 (AIM: TENG). Ten Lifestyle Group's
objective is to become the most trusted service platform in the
world.
For further information about Ten Lifestyle Group Plc, please go
to: www.tenlifestylegroup.com
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END
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