We're pleased to announce strong end of year financial results for Equals Group with revenues up 52%.
In addition to revenues for the Group up 52%, revenue from B2B is up 11%. This success is largely supported by like for like transactional values increasing by 63%, and immediate success in the Solutions Platform, which contributed £0.8 billion in transaction values and £3.6 million in revenues.
Additionally, gross profits increased 31% to £24.0 million, and year-end cash increased 31% to £13.1 million
In addition to positive financial results, the Group also saw key deliverables across the business contributing to growth. For example, in FY-2021, the business saw the implementation of Hubspot CRM rolled out with significant benefits to the sales process.
The Group also saw positive change in our Environmental Social and Governance such as beginning our journey towards carbon neutrality and an increased focus on women in the Senior Leadership Team.
We're also pleased to announce a strong trading performance for Q1-2022, with revenue from 1 January 2022 to 28 March 2022 up 78%, on Q1-2021.
Additionally, the Group saw total revenue from 1 January 2022 to 28 March 2022 of £13.6 million.
This is due to a strong performance across all sectors.
CEO Ian Strafford-Taylor said: “We ended 2021 in a very strong position, both financially and operationally. The surge in our reported revenue and EBITDA speaks to a successful repositioning of our model to focus on B2B and away from legacy travel operations. This process began in 2020, put us on the front-foot for 2021, and we are now progressing into 2022 with sustained confidence.
"Our product set is being adopted by existing and new customers at a faster rate than we anticipated and that has allowed us to more quickly develop and roll out new functionality to a broader range of customers. We are making excellent progress in the early stages of 2022 with rapid growth continuing while we navigate the geo-political backdrop. We remain highly confident for our prospects both in 2022 and beyond".