IN BRIEF: GRC with higher annual billings, expects profitable earnings


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GRC International Group PLC - Ely, England-based provider of products and services for IT governance, risk management and compliance - Posts higher annual billings for its financial year ended March 31. Billings rise 21% to £14.8 million from £12.2 million a year ago. ‘Billings equate to the total value of invoices raised as cash sales through the group's websites,’ firm explains. Year-end cash grows to £2.0 million from £200,000.

‘Our strong performance in calendar 2021 continued into the fourth quarter of financial year 2022, resulting in our best month of billing, despite the economic and geopolitical headwinds,’ comments Chief Executive Officer Alan Calder.

GRC expects financial year 2022 earnings before interest, tax, depreciation and amortisation to swing to a profit of £800,000 compared to a loss of £1.1 million a year before.

Current stock price: 30.00 pence, untraded

12-month change: down 17%

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