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Increased collaboration and flexibility key to Ambition's growth

Ambition in Australia is the most profitable it has been in five years, with better collaboration and flexibility between the company's brands driving its growth, says founder and executive chair Nick Waterworth.

The company's local revenue grew 1.4% year-on-year to $35.1 million in calendar 2022, and the business was "nicely profitable", he tells Shortlist. (Since delisting in 2020, Ambition doesn't break out detailed results by segment.)

Across the Group, which also includes Hong Kong, Singapore, the UK, the US, and Malaysia, revenue increased by 20% year-on-year, gross profit grew 30%, and EBITDA grew 84%. Net cash from operating activities increased to $11.8m from $3.3m in 2021 (up 262%)...