(Boursier.com) — UTI-Group achieved a turnover of 4.97 ME in the third quarter against 4.34 ME in the third quarter of 2021. This level of activity, up 14.5%, “confirms the change in trend observed since the first half 2022”. As of September 30, 2022, and after 3 consecutive quarters of growth, UTI recorded a turnover of 15.68 ME against 13.38 ME as of September 30, 2021, i.e. an increase of 17.2%. This level of growth is mainly linked to the ramping up of the activity of Groupement IT, a subsidiary 100% owned by UTI, which achieved a turnover of 1.95 ME over the first nine months of the financial year. One year after its launch, this new subsidiary fully participates in the development of the activity and already represents 12% of turnover. In addition, the provincial entities, which represent 24% of turnover as of September 30, 2022 against 22.7% a year before, also participated in the dynamic with growth of 23.4% over the period.
The growth in activity in the third quarter of 2022 is accompanied by an improvement in operating performance. As of September 30, 2022, the Group recorded current operating income of -0.06 ME compared to -0.21 ME as of September 30, 2022. After taking into account exceptional operating expenses of 0.23 ME, net income stood at -0.29 ME as of September 30, 2022.
Despite the global economic uncertainties, the group “has solid fundamentals allowing it to anticipate continued growth in 2022 and the improvement of its level of operating profitability”, concludes UTI.
©2022 Boursier.com