5 November 2026
Adsure Services PLC
("Adsure" or the “Company")
Trading Update
Adsure Services PLC ("Adsure" or the "Company"), a leading provider of audit and assurance services and the holding company for TIAA Limited (together, "the Group"), provides the following trading update ahead of the publication of its interim results for the six months ended 30 September 2026, which are expected to be announced in December 2026.
The Board now expects Group revenue for the period to be approximately 17% lower compared with the corresponding period in the prior year, which is expected to lead to a loss being reported for the first half of the financial year.
Trading during the first half of the financial year has been adversely affected following the introduction of a new tool for resource allocation which has taken longer to implement than expected. Refinements to the tool have been implemented to improve income generation and resource utilisation; however, the results of the first half of the financial year are expected to impact the financial performance for the full year.
The Group in the first half of the year has made significant investments in its operating systems, the assessment of acquisition opportunities and artificial intelligence capabilities.
The Board is taking immediate corrective action in response to these issues whilst safeguarding customer delivery and quality. Operating expenditure is being reduced and the Group's approach to AI is being refocused towards alternative technology solutions, which will result in lower levels of bespoke development cost.
These actions are expected to improve the Group's operating performance during the second half. However, given the level of underperformance in the first six months, the Board expects the first-half shortfall to have a material impact on the Group's financial performance for the year ending 31 March 2027.
Further information will be provided when the Group announces its interim results in December 2026.
Kevin Limn, Chief Executive Officer, commented:
"The first half of the year has been disappointing. We have identified the underlying issues and are taking immediate corrective action. We are also reducing operating expenditure and refocusing our approach to AI towards established technologies that can deliver operational benefits with a lower level of investment. These actions should support an improvement in performance and customer delivery during the second half of the financial year.”
-Ends-
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Engage with the Adsure Services management team directly by asking questions, watching video summaries and seeing what other shareholders have to say. Navigate to our Interactive investor hub here: https://investors.adsureservicesplc.co.uk/link/PqaRpP.
Adsure Services PLC Kevin Limn, Chief Executive Officer Engage with the company directly | +44 (0) 845 300 3333 https://investors.adsureservicesplc.co.uk/s/435bf4 |
Guild Financial Advisory Limited - Corporate Adviser Ross Andrews Evangeline Klaassen | +44 (0)7973 839767 +44 (0)7972 841276 |
Redchurch Communications - Financial PR & IR John Casey / Nicky Bagheri | +44 (0) 207 7870 3974 |
About Adsure Services
Adsure Services PLC is a leading audit and assurance services provider, dedicated to delivering high-quality financial review and compliance solutions. Through investment in innovative technology and AI-driven solutions, the Company is focused on enhancing efficiency and accuracy in the audit sector.
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