We are pleased to report another year of good progress. Seven of our nine ongoing businesses delivered increases in both revenue and profit
We have continued to focus our business on the international Governance, Risk and Compliance (GRC) markets. In October 2024, we acquired Phoenix Health & Safety, strengthening our position in the Health, Safety and Environment sector. After the year end, we announced the proposed acquisition of Conversia, which will expand our presence in Data Privacy.
As part of our ongoing strategy, we sold our small US Compliance Week business in February 2025.
Highlights
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Strong on-going revenue performance
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11% revenue growth to £99.5m (2024: £89.7m) - seven of nine businesses grew
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Double digit % revenue growth from acquired Health and Safety, and ESG businesses
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Annual recurring revenue up 5% to 36% (2024: 34%) of Group organic revenues. Repeat, including recurring, 80% of ongoing revenue
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Adjusted profit before tax from ongoing businesses up 18% to £28.4m (2024: £24.1m). Total adjusted profit before tax of £27.7m (2024: £27.6m
- Ongoing Adjusted PBT margin up 6% to 28.5% (2024: 26.8%)
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Continued portfolio management
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Phoenix Health and Safety acquired Oct 2024
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Compliance Week sold Feb 2025
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Proposed acquisition of RegTech business Conversia announced in August 2025
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US events business FRA will be marketed for sale
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Continued investment in the development of a single RegTech platform for the Group.
"Our ongoing businesses have delivered another good financial performance. Our focus on portfolio management and a continuation of the strategy to expand our positions in GRC markets has resulted in further strong revenue performance, profit growth and cash generation. Both of our recent acquisitions have seen double digit growth and margins have also continued to improve. We have actively managed our portfolio with two acquisitions and one disposal, reflecting the Group's strategy of deepening expertise in GRC markets. In August 2025, we agreed to acquire Conversia, a business operating in the Spanish GRC and regulatory compliance market. This acquisition is earnings enhancing and will extend our reach in the GRC markets and opens up new opportunities for us in the regulated Data Privacy sector. It operates in a large addressable target market, delivering high quality revenues of which greater than 70% are annually recurring. We have had a good start to the current financial year, with revenues and profits in line with expectations and look forward to Conversia joining the Group later this year."
Chief Executive Officer
