Provides Business Update TORONTO, Sept. 13, 2021 (GLOBE NEWSWIRE) -- Altus Group Limited (Altus Group or “the Company”) (TSX: AIF), a leading provider of software, data solutions and independent advisory services to the global commercial real estate industry, announced today its financial outlook for the second half of 2021.
Since Altus Group’s second quarter interim financial results were released on August 12, 2021, the Company continues to deliver robust performance across all of its business segments and expects a strong second half of the year to deliver mid-teen year-over-year growth in consolidated constant currency revenues in FY2021 at improved margins.
Reflecting the strong 68% constant currency year-over-year Altus Analytics Bookings growth in the six months ended June 30, 2021, revenue growth is expected to accelerate in the second half of 2021. There is solid momentum in both new client growth and existing client expansion across the whole business with Altus Analytic Bookings to date approaching total Bookings in FY2020. Over Time revenue growth is also expected to pick up in the second half of 2021.
The CRE Consulting segment is also poised for robust performance in the second half of the year, reflecting healthy market fundamentals across its core practice areas. The global Property Tax business is on track to deliver record FY2021 revenue and Adjusted EBITDA results, however, is expected to experience some quarterly variability in the second half of the year primarily due to continuing COVID-19-related disruptions and appeal settlement delays in the U.S. and the U.K. markets which is expected to result in anticipated third quarter revenues to be deferred into future quarters.
For more information on Altus Group, please visit: www.altusgroup.com.
https://www.globenewswire.com/news-release/2021/09/13/2295623/0/en/Altus-Group-Provides-Business-Update.html