Beat Capital Partners Limited has released its unaudited interim report and condensed consolidated financial statements for the six-month periods ended 30 June 2024 and 30 June 2023. The company's turnover for the six-month period ending 30 June 2024 was £26.4 million, compared to £24.7 million for the same period in 2023.
Operating profit for the six-month period ending 30 June 2024 was £5.8 million, an increase from the operating profit of £9.2 million for the same period in 2023. The profit before taxation for the six-month period ending 30 June 2024 was £6.1 million, up from £8.0 million in 2023.
The company reported a profit after taxation of £4.0 million for the six-month period ending 30 June 2024, compared to £5.9 million for the same period in 2023. The total comprehensive income for the year was £3.8 million in 2024, down from £6.0 million in 2023.
In terms of the company's financial position, the total assets less current liabilities were £21.3 million as at 30 June 2024, compared to £21.1 million as at 31 December 2023. The profit and loss reserves for the period ending 30 June 2024 were £20.2 million, up from £16.2 million for the same period in 2023.
During the six-month period ending 30 June 2024, the company recorded a net cash decrease of £2.3 million, with cash and cash equivalents at the end of the period amounting to £31.6 million. This is a decrease from the cash and cash equivalents of £35.4 million at the end of the same period in 2023.
The company's intangible fixed assets, specifically software, saw an increase in the carrying amount from £2.6 million at 31 December 2023 to £2.9 million at 30 June 2024.
As a result of these announcements, the company's shares have moved 0.6% on the market, and are now trading at a price of $11.17. For more information, read the company's full 8-K submission here.
