Ten Lifestyle Group (GB:TENG) has released an update.
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Ten Lifestyle Group plc has announced a trading update indicating net revenues of £62.9m for the year, consistent with market expectations, and an adjusted EBITDA of £12.8m, which is a 7% increase from the previous year. The company has also secured a new multi-year Extra Large contract in the USA worth over £5.0m per year, which is expected to contribute to revenue and EBITDA growth in FY 2025. To support the launch of this contract, Ten Lifestyle Group is conducting a fundraising effort aiming to raise a minimum of £5.5m through a conditional placing and a separate retail offer.
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