System1 (LSE:SYS1) reported full-year revenue of £37m for the year ended 31 March 2026, broadly unchanged from the previous year as 3% growth in platform revenue offset a significant decline in bespoke consultancy work caused by tariff-related pressure on advertising budgets. Profit before tax fell to £2.1m from £5.3m, reflecting planned investment and weaker trading conditions during the first half. Despite lower earnings, the company retained a debt-free balance sheet and proposed an increase in its ordinary dividend.

Trading strengthened considerably during the second half, with System1 delivering record revenue for the period and profit before tax increasing…