Seventeen Group reports rising turnover and Ebitda

Money

Group CEO Paul Anscombe says the business is set to make acquisitions in the first half of the year, after pausing its deal-making plans in 2020 due to the pandemic.

Seventeen Group has reported an increase in turnover and Ebitda for the year ended 31 December 2019.

Turnover rose to £22.66m in 2019 (2018: £18.42m) while operating profit remained relatively flat at £1.08m (2018: £1.0m).

However pre-tax profit dropped to £500,900 from £812,716 in the preceding year and profit for the financial year was £2,358 (2018: £406,925).

In a statement, the business further said that Ebitda had increased from £2.3m in 2018 to £3.2m in 2019.

It added that the results

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