Join us as we celebrate Pride Month. Embrace diversity. Foster inclusion. Spread love through acceptance.

Full Year Trading Update and Notice of Results

We are pleased to announce a trading update ahead of announcing our preliminary results for the year ended 31 August 2022.
Trading update - Saatchi Gallery

We are pleased to announce a trading update ahead of announcing our preliminary results for the year ended 31 August 2022.

We expect to report Net Revenue1 of c.£46.8m, 35% above prior year (FY 2021: £34.7m) and ahead of market expectations of £45m.

In the second half of the year, Net Revenue was c.£26m, a record for Ten, and c.45% up on the second half of the prior year, with sequential growth from the third to the fourth quarter.

Adjusted EBITDA2 is expected to be ahead of the prior year (FY 2021: £4.4m) and in line with market expectations of £5m. 

Adjusted EBITDA was c.£0.9m in the first half of the year, due to the adverse effects of Omicron, but improved significantly in the second half of the year; in line with the Board’s expectations.

We ended the financial year with a cash position of £6.8m, with net cash at £3.3m, in line with market expectations. In the last quarter, we raised additional long-term debt of £2m, in order to provide a prudent level of working capital to support organic revenue growth and a number of anticipated new contract launches in FY 2023.

We have continued our investment in technology throughout the year to drive improvements in concierge service levels, efficiencies and our competitive advantage.

Notice of Results

We expect to announce our preliminary results, for the year ended 31 August 2022, on 23 November 2022.

We will be hosting an analyst presentation to accompany our preliminary results at 9am on 23 November 2022.

We will also be presenting an Investor Webinar for current and prospective investors at 5:30pm on 30 November 2022.

If you would like to attend either event, please email

To find out more about Ten Lifestyle Group, please click here for our investor overview. To read the official RNS article, please click here.

To read the CityAM coverage of the trading update, please click here.

Net Revenue excludes the direct cost of sales relating to certain member transactions managed by the Group.

Adjusted EBITDA is operating profit/(loss) before interest, taxation, depreciation, amortisation, share-based payments and exceptional items.

Share This Post

More To Explore

Emirates NBD building
In The Press

Ten wins new contract with Emirates NBD

Ten Lifestyle Group plc (AIM: TENG), the global concierge platform driving customer loyalty for global financial institutions and other premium brands, is pleased to announce that it has won a multi-year contract with Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region.

Read More