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TEN Half - year Report - Replacement Released : 13 May 2021 10:46 RNS Number : 5432Y Ten Lifestyle Group PLC 13 May 2021 The following amendment has been made to the ' Interim results for the six months ended 28 February 2021 ' announcement released on 13 May 2021 at 07.00 under RNS No 4574Y . The investment in the Company's proprietary digital platforms , communications and technologies in H1 2020 is corrected from £ 5.9m to £ 6.3m . All other details remain unchanged . The full amended text is shown below . " Continued investment in proprietary digital platforms , communications and technologies , £ 5.5m ( H1 2020 : £ 6.3m ) " 13 May 2021 Ten Lifestyle Group plc ( " Ten " , the " Company " or the " Group " ) Interim results for the six months ended 28 February 2021 Ten Lifestyle Group plc ( AIM : TENG ) , a leading technology - enabled global concierge platform for the world's wealthy and mass affluent , announces its unaudited Interim Results for the six months ended 28 February 2021 ( " H1 2021 " , or " the period " ) . Financial Highlights Net Revenue¹ £ 17.2m , £ 6.6m down due to the effects of COVID - 19 ( 28 % lower than H1 2020 : £ 23.8m , which was the last period before international lock - downs took effect ) Corporate revenue of £ 15.5m ( 25 % lower than H1 2020 : £ 20.5m ) Supplier revenue of £ 0.9m ( 66 % lower than H1 2020 : £ 2.5m ) • Reduced operating expenses of £ 15.5m ( H1 2020 : £ 21.7m ) , as a result of continued efficiencies as well as participation in government funded COVID - 19 initiatives • Adjusted EBITDA² of £ 1.7m ( H1 2020 : £ 2.1m ) and improved Adjusted EBITDA margin³ of 9.8 % ( H1 2020 : 8.7 % ) • Loss before tax of £ ( 3.6 ) m ( H1 2020 : £ ( 3.3 ) m ) • Cash and cash equivalents of £ 9.2m ( H1 2020 : £ 9.6m ) and £ 1.0m of long - term debt ( USA ) ( H1 2020 : £ nil ) Operational Highlights Key contract renewals , expansion of certain existing contracts and won new contracts Healthy pipeline of potential new contracts in all three global regions Continued investment in proprietary digital platforms , communications and technologies , £ 5.5m ( H1 2020 : £ 6.3m ) Operating efficiency continues to improve largely due to digital transformation , including three quarters of requests now fully or partially automated compared with half of requests in H1 2020 Digital platform launched with new brands and into new geographic markets Record Member satisfaction due to continued improvements to the member proposition Alex Cheatle , CEO of Ten Lifestyle Group , said ; " Revenue from corporate clients was reduced due to the pandemic but remained at healthy levels because we continued to provide value to members . Supplier revenue , predominantly from travel - related commissions , remained subdued , whilst travel is restricted globally . Despite lower revenues , the growth engine within the Ten model helped us to remain EBITDA profitable , with improved margin , whilst achieving record service levels in the period and continuing the digital transformation of our business . Our improving proposition and efficiency , along with our strong pipeline of new contract opportunities and the gradual return of demand for our core services , means we are well positioned to continue our momentum as the impact of the COVID - 19 pandemic eases . "