Team Internet Group Plc (TIG.L), a British media firm, on Monday posted a surge in pre-tax profit for the full year, amidst an increase in revenue.
For the 12 months, the Group reported a pre-tax income of $29.3 million, higher than $14.8 million in the previous year.
Net profit stood at $24.3 million or 8.63 cents per share versus last year's loss of $2.1 million or 0.78 cents per share. Last year's net profit was hurt by an income tax expense of $16.9 million, higher than this year's $5 million.
Excluding items, earnings were at 22.41 cents per share, higher than 16.72 cents per share in 2022.
Operating profit improved to $42.3 million from $33.6 million a year ago.
Adjusted EBITDA rose to $96.4 million from $86 million last year.
Revenue improved to $836.9 million from previous year's $728.2 million.
Team Internet will pay final dividend of 2 pence per share, higher than last year's 1 pence per share. This will be paid on May 28 to shareholders on the register as of April 26.
Looking ahead, the company said: "We confirm our guidance that the Group is confident in its ability to meet current market expectations."
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