By Joe Hoppe
Mind Gym PLC said Friday that pretax profit and revenue rose in the first half of fiscal 2023, boosted by favorable foreign-exchange rates.
The business-transformation and training company posted a pretax profit of 641,000 pounds ($785,610) for the six months ended Sept. 30, up from GBP17,000 at the same time a year before. This includes an incremental amortization of around GBP500,000 related to the Performa coaching platform, which hadn’t started in the first half of fiscal 2022.
Revenue rose to GBP26.8 million from GBP24.1 million. Foreign-exchange rates benefited revenue growth by around 9%, the company said.
The board said it is prioritizing investments in digital growth over the coming years, and therefore no interim dividend will be paid. Once more clarity on the performance of digital investments and the broader economy is available it will revisit its dividend policy.
The company said its outlook for the full year remains unchanged despite the effect of economic headwinds, notably in the U.S., and second half growth will include the benefit of large corporate frameworks.
Write to Joe Hoppe at joseph.hoppe@wsj.com
Still, new 52-week highs made by individual stocks is low, putting on hold a 'buy' signal.
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Mind Gym 1H Pretax Profit, Revenue Rose on Favorable Currency Effects – MarketWatch
