Dods publishes Annual Report
Dr David Hammond, Chairman, commented:
The Group’s priorities at the beginning of the year were: developing an acquisition strategy and pipeline, adding talent and depth in growth areas of the business and creating forward momentum in the transition to higher margin products.
As outlined in the trading update issued on 21 January 2019, the Group faced challenging market conditions in the last few months of the financial year, which has had a significant impact on the Group’s adjusted EBITDA and results for the year ended 31 March 2019. From a strategic review of the business, which is ongoing, the Group has focused on a strategy that seeks to deliver growth by increasing average client spend, pivoting away from policy dependent products, raising operating margins through increased commercialisation of the Group’s proprietary data and enhancing its existing portfolio. The Group seeks to simplify and strengthen its core business to deliver sustainable shareholder value in the long term.