ME Group Holdings Ltd
[“ME Group or “the Company”]
ME Group Holdings Ltd, has announced a 16% increase in EBITDA in the six months to end September 2018. In its interims statement, the fast growing LegalTech business reported EBITDA of £1.26m, compared to £1.1m for the previous 15 months trading to March 2018. Group turnover grew to £6.2m over the same six month period (15 months 2017-18: £5.8m).
Rob Cooper, ME Group chief executive officer, commented:
“These are excellent results for the Group, underlining the significant progress we have made since we began trading in 2017. Our market-leading technology and strong governance platform means we are well positioned to accelerate our growth during 2019.”
ME Group’s proprietary technology enables fast and efficient dispute resolution for complex legal cases. The Group also recently announced the acquisition of Quanta Capital Holdings, a litigation funding specialist (23.01.19), and Mr Cooper said he expected to announce further moves by the Group during the next few months to “increase our presence along the dispute resolution value chain.”
Note: Interims are for six months trading to September 2018. Comparison figures are for the previous 15 months (January 2017 – March 2018)
• Profit before tax £1.20m (£0.93m).
• EBITDA £1.26m (£1.10m).
• Turnover £6.20m (£5.85m).
• Cost of sales £2.60m (£2.30m)
• Gross Profit £3.60m (£3.60m)
The Directors of ME Group Holdings Ltd accept responsibility for the contents of this announcement.
Rob Cooper, chief executive officer
01625 568 767
Ben Welsh, Media Relations