StockMarketWire.com - Marketing research group System1 booked a rise in annual profit after cost cutting helped offset a fall in sales.

The company reiterated plans to resume a share buyback but didn't declare any dividends.

Pre-tax profit for the year through March rose to £2.1 million, up from £0.3 million year-on-year.

Revenue fell 11% to £22.8 million, but operating costs fell 17% to £17.7 million.

System1 reiterated that it would look to reinstate a share buyback programme, which was suspended in 2020 due to uncertainty over the potential impact of the pandemic.

'More information will be provided on the proposed buyback later in the year,' it said. 'No final dividend will be declared.'




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