Trading Update

System1 Group PLC
27 September 2023




                                          27 September 2023



System1 Group PLC (AIM: SYS1)

 ("System1", or "the Company", or "the Group")

Trading Update for the Annual General Meeting


System1, the marketing decision-making platform is today providing a Trading Update to coincide with the Company's AGM.


With three trading days left in FY24 H1, it is pleasing to report Platform revenue is approximately 40% above the comparable period in FY23, albeit 2022 was affected by customers' budgetary response to the Ukraine invasion and associated economic shocks.


Total revenue for FY24 H1 is expected to be approximately 25% higher than the comparable period in FY23. Second quarter revenue is set to surpass the recent FY23 Q4 peak and deliver double-digit growth on Q1 FY24.


Overall, FY24 H1 Platform revenue is expected to show low double-digit growth on the second half of FY23, and total revenue is projected to rise modestly despite a reduction in bespoke consultancy revenues.


The improved gross profit margins achieved in H2 FY23 have been sustained in the current year to date, providing a strong base for a profitable year.



The Company expects to release its Q2 revenue numbers on 24 October 2023 and publish interim results on 6 December 2023.


The Board is encouraged by trading in FY24 H1 and believes that the Group is well set to outperform the current consensus1 numbers for Revenue and Adjusted Profit Before Taxation2 for the current financial year.


Chairman Rupert Howell commented: "The sustained improvement in performance over the past 9 months reflects the clarity on strategy achieved in last year's review of strategic options and the executive team's focus on delivering the plan." 


This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) 596/2014 as amended by regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. With the publication of this announcement, this information is now considered to be in the public domain.


1 Current consensus for FY24: Revenue £25.7m, Adjusted Profit Before Taxation £0.9m

2 Statutory Profit Before Taxation excluding share-based payment charges/credits



For further information, please contact:

System1 Group PLC

Tel: +44 (0)20 7043 1000

James Gregory, Chief Executive Officer

Chris Willford, Chief Financial Officer


Canaccord Genuity Limited (Nominated Adviser & Broker)


Tel: +44 (0)20 7523 8000


Simon Bridges / Andrew Potts


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact or visit

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
UK 100

Latest directors dealings