(Alliance News) - Mind Gym PLC on Monday said it is confident looking ahead, after seeing a jump in revenue during the second half of of its just-completed financial year.

Mind Gym is a London-based personal and business coaching service.

It said it expects to report revenue of GBP54.7 million in the financial year that ended March 31, up 12% from GBP48.7 million in financial 2022. It expects pretax profit to be "broadly" in line with expectations, without providing figures.

Revenue in the second half of the financial year was up 14% year-on-year, Mind Gym said, demonstrating good momentum from the 11% annual growth in the first half.

Looking ahead, Mind Gym said it remains confident it its prospects, as it has performed "robustly" despite macro-economic headwinds. It noted that during the second half of the financial year, it signed a large framework agreement with a global automotive manufacturer, which is initially expected to deliver at least GBP2 million over the next 18 months.

Chief Executive Officer Octavius Blac said: "We are encouraged by our performance in FY23. Despite macro-economic headwinds, MindGym has increased its growth rate in the second half and won a further important framework agreement. MindGym's continued strength in Innovation, coupled with a debt free balance sheet, ongoing client wins, and evolving digital pipeline, position it well for FY24 and beyond."

Mind Gym will provide a further update with its results ton June 14.

Shares in Mind Gym were down 3.9% to 61.00 pence each in London on Monday morning. Over the past 12-months the stock is down 53%.

By Sophie Rose, Alliance News reporter

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