Mind Gym Swung to 1H Pretax Profit on Higher Revenue; Appoints New CFO

Written by Michael Sosin

Mind Gym PLC said Friday that it has turned into a pre-tax profit for the first half of fiscal 2022 as revenue returns to pre-pandemic levels, and that it has appointed Dominic Neri as its new chief financial officer.

The London-listed human capital and advisory firm said pre-tax profit for the six months ended September 30 was 17,000 pounds ($22,620), compared to a loss of 2 million pounds a year earlier.

Revenue increased to £24.1 million from £14.5 million in the previous year, up 7% compared to the same period two years ago.

“We are facing uncertainty as we enter the fourth quarter with an increase in reported COVID-19 infection rates and the potential impact of the Omicron variant that may influence customer decision-making. However, Mind Gym has shown great adaptability and resilience thus far and remains focused on providing solutions leading customers. So our expectations for the full year remain broadly unchanged.”

The company said that no interim dividend will be paid in order to focus on investing in digital technology for future growth.

In a separate statement, the company said it appointed Mr. Neri as its chief financial officer, succeeding Richard Steele on Jan. 1.

Write to Michael Susin at michael.susin@wsj.com

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