By Joe Hoppe
TPXImpact Holdings has announced the sale of Questers Resourcing and Questers Bulgaria to Nortal AS for a cash consideration of £7.5 million ($9.3 million). The decision to sell these entities was made by the U.K. digital-transformation services group as it determined that they are no longer core to its focus on digital transformation and digital experience.
According to Chief Executive Bjorn Conway, "Today's announcement firmly aligns with this strategic vision for TPXImpact by enabling us to concentrate our resources and energies around those prospects within the U.K. public sector and broader digital transformation market where there is considerable scope for further growth."
Out of the total consideration, up to £5.0 million will be used to repay borrowings, while the remaining amount will be dedicated to funding investment and growth in the company's core capabilities.
TPXImpact Holdings emphasized that its current performance is in line with management expectations and reiterated its fiscal 2024 guidance of like-for-like revenue growth between 15% and 20%. The adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) margin is anticipated to range from 5% to 6%.
As of 0749 GMT, shares were up 2.5% at 41.5 pence.