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(Sharecast News) - Baltic Classifieds Group shares fell more than 7% on Thursday morning after the online classifieds operator reported full-year revenue growth but guided to a lower margin and higher leverage as it continues an accelerated buyback programme.
The FTSE 250 company said revenue rose 7% to 88.5m in the year ended 30 April, while EBITDA also increased 7% to 68.6m and the EBITDA margin remained stable at 78%.
Operating profit grew 13% to 60.4m, profit for the year rose 14% to 50.9m, and adjusted net income increased 7% to 58.1m.
Baltic Classifieds said it returned 101.1m to shareholders through buybacks and dividends during the year, after increasing borrowings to fund repurchases it said reflected an undervalued share price.
Net debt rose to 46.2m from 4.4m, with leverage increasing to 0.7x, while the group said it expected revenue growth of around 10% in 2027 and a full-year margin in the mid-70s.
At 0918 BST, shares in Baltic Classifieds Group were down 7.47% at 185.61p.
Reporting by Josh White for Sharecast.com.
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