StockMarketWire.com - Marketing services group System1 said it had grown its annual adjusted profit by around 80% after it reduced its operating costs.

Pre-tax profit for the year through March rose to £3.7m, even as gross profit fell around 1% to £22m.

Gross profit in the second half rose 4%, it added, despite continued pricing pressure.

'Operating costs were tightly controlled and, excluding the company's investment in its new Ad Ratings service, were some 9% lower than in the 2018 financial year as the consultancy business achieved higher levels of efficiency,' System1 said.

The consultancy business had stabilised after a difficult 2018 financial year, it added.


At 8:03am: (LON:SYS1) System1 Group Plc share price was +19p at 217p



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