Auction Technology Group Plc (ATG), a British online marketplace company The company announced that CEO John-Paul Savant will step down after more than ten years of service.
The Auction Group confirmed it's full year 2026 guidance and said it expects first interim revenue growth, after positive trading in the second quarter built on the first quarter momentum.
For the first interim, revenue is anticipated to be about $125 million for the six months to March 31.
Proforma constant currency revenue growth was close to 8 percent in the period, or about 9 percent at actual rates, the company said.
Arts & Antiques saw strong revenue growth, supported by atgship, GMV gains and Easter timing.
Industrial & Commercial revenue fell modestly, Auction Group said.
Chairish delivered "good" pro forma constant currency revenue growth, the company said, with operational synergies still on track for an $8 million annual run rate by fiscal 2027.
Adjusted EBITDA was in line with company's expectations, aided by LiveAuctioneers commission growth, Chairish synergies and group cost efficiencies, the company added.
The adjusted EBITDA margin will reflect Chairish consolidation and the dilute impact of value-added services.
A new modest cost savings program will aid margins in financial 2027, with a small benefit in second interim 2026, the company noted.
Looking ahead to 2026, the company confirmed its guidance. It expects 4-5 percent proforma constant currency revenue growth, weighted to the first half, and a 34.5- 35.5 percent adjusted EBITDA margin.
Interim results are due May 14, the company said.
On the London Stock Exchange, shares of Auction Group were trading 1.98 percent higher, at 392 pence.
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