Global Data, a London-based data analytics and consultancy firm, has announced that its profits for the current year are expected to fall short of market expectations amid ongoing challenges in the economic environment. The company reported modest revenue growth and outlined plans to invest in boosting future sales to reinvigorate its performance.

Founded in 2016 by media and sports entrepreneur Mike Danson, Global Data delivers subscription-based data and analytics services across various sectors, including pharmaceuticals and food production. The company, positioned as a challenger to financial data heavyweight Bloomberg, transitioned from London’s junior Aim exchange to the main market in March.

In its latest update, Global Data revealed that adjusted earnings for the first half of the year rose between 4 and 5 percent, while underlying revenue increased by 1 percent. However, the firm emphasized the need for more consistent performance within its sales division to accelerate growth amid what it described as a “challenging” macroeconomic backdrop.

To support these efforts, Global Data plans to initiate a tender offer of up to £30 million at a fixed price of 85 pence per share. This move signals the company’s intent to strategically manage capital in an effort to unlock value.

Market response has been cautious, with the company’s shares declining approximately 36 percent since the beginning of the year. At the close of trading on Wednesday, shares fell 4.5 percent to 73.5 pence. Analysts at Peel Hunt have downgraded their adjusted earnings forecast for Global Data by 6 percent for the current year.

Last year, Global Data attracted takeover interest from private equity firms KKR and Intermediate Capital Group, but both parties withdrew after failing to agree on terms. The company has scheduled an investor update for September 14, when it will also release its half-year financial results, to provide further clarity on its strategy to enhance shareholder value.