IDE Group Holdings Plc (GB:TIA) has released an update.
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Tialis Essential IT plc reported a revenue of £10.7 million and an adjusted EBITDA profit of £0.9 million for the first half of 2024, declines from the previous year due to reduced project revenue from their largest partner and expiring contracts. The company secured a £4m revolving credit facility with Santander and a related party convertible loan for £300k to bridge financing shortfalls. Additionally, Andy Parker stepped down as Executive Chairman, succeeded by Nicolas Bedford as Non-Executive Chairman.
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