Sheffield's Sumo Group reveals company is 'in line' with expectations

Sheffield-headquartered Sumo Group has revealed its unaudited half year results for the six months ended June 30, 2019.

During the period, Sumo Group continued to deliver on its stated strategic objectives: to expand; to win new clients; to develop complementary new revenue streams; and to develop its own IP - both self-funded and co-funded.

The group has had strong revenue visibility for the year ending December 31, 2019 and beyond.

These results are said to reflect the significant H2 performance weighting expected in this year’s financial results. The group has also remained on track to meet consensus market forecasts for FY19.

Carl Cavers, chief executive officer of Sumo Group, said: “H1 ’19 has been another successful six months for Sumo Group.

“We have grown the business and delivered financial results in line with our expectations. Our market remains buoyant and we are seeing many opportunities.”

He added: “The group’s business model is developing in a way which allows us to capitalise on our flourishing own-IP capabilities, whilst maintaining an appropriate risk profile.

“Sumo Group has exceptional people and I am very grateful to the whole team for the passion and dedication they continue to demonstrate.

“The foundations of our business comprise both exceptional talent and valuable proprietary systems.

“These, combined with the tremendous growth opportunities presented by our markets, give me confidence in the financial prospects of the Group for this year and beyond.”