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TEN Full Year Trading Update and Notice of Results Released : 08 September 2021 7:00 RNS Number : 0454L Ten Lifestyle Group PLC 08 September 2021 8 September 2021 Ten Lifestyle Group plc ( " Ten " or the " Group " ) Full Year Trading Update and Notice of Results Ten Lifestyle Group plc ( AIM : TENG ) , a leading technology - enabled global concierge platform for the world's wealthy and mass affluent , is pleased to announce a trading update ahead of its preliminary results for the year ended 31 August 2021 . The Group expects to report Net Revenue¹ that is in line with market expectations of £ 34.8m and below prior year ( 2020 : £ 44.2m ) , due to the adverse effects of the COVID - 19 pandemic . Adjusted EBITDA² is expected to be marginally below the previous year's £ 4.8m , despite significantly lower Net Revenue ; reflecting improved efficiencies and effective cost management in response to the effects of COVID - 19 globally . The Group ended the financial year with a healthy net cash position of c . £ 6.6m , ahead of market expectation , and is debt free . In the last three months of the financial year to August , inbound requests from members , a lead indicator of improving demand , have increased across certain of Ten's core categories , such as hotels , dining and live events , to be at or above pre - COVID - 19 levels for the same period in 2019 . The Group continued its investment in technology throughout the year to drive continued improvements in service levels , efficiencies and Ten's competitive advantage . Alex Cheatle , CEO of Ten Lifestyle Group , said : " We are pleased that our robust business model and the commitment of our team have allowed us to continue to deliver high quality services to our members and corporate clients . In the past quarter , activity from members has increased across many of our core service categories and supplier revenue , primarily from hotel bookings , has recovered to levels above the same period in 2019³ , before the global pandemic . We have increased our EBITDA percentage margin4 , despite lower Net Revenue than last year , through cost management and improving efficiencies . This positions us well for the anticipated pick up in travel , dining and live events as COVID - 19 restrictions ease across the world . " Notice of Preliminary Results The Group expects to announce its preliminary results , for year ended 31 August 2021 , on 24 November 2021 . The Group will be hosting an analyst presentation to accompany its preliminary results at 9am on 24 November 2021 . The Group will also be presenting an Investor Webinar for current and prospective investors at 5:30 pm on 30 November 2021 . If you would like to attend either event , please email investorrelations@tengroup.com . 1 Net Revenue excludes the direct cost of sales relating to certain member transactions managed by the Group . 2 Adjusted EBITDA is operating profit / ( loss ) before interest , taxation , depreciation , amortisation , share - based payments and exceptional items . 3 Ten's revenue from its supplier base , such as hotels , airlines , and event promoters which sometimes pay commission to Ten constituted 12 % of Net Revenue for the 2019 financial year ( as reported in the 2019 Annual Report and Accounts ) .