TIDMIDEA

RNS Number : 2238G

Ideagen PLC

19 November 2015

19 November 2015

Ideagen PLC

("Ideagen," "the Company" or the "Group")

Trading Update

Ideagen PLC (AIM: IDEA), a leading supplier of Information Management software to highly regulated industries, is pleased to provide an update on trading for the six months ended 31 October 2015.

Trading in the first half of the year remained strong. Revenues and adjusted EBITDA are expected to be significantly ahead of the same period last year and in line with market expectations.

Following the successful integration of the Gael and EIBS businesses in the prior year, the Group expects to show underlying organic core revenue growth of approximately 6% for the period. The positive effects of the integration are bearing fruit. The Board is pleased to announce that the Group has just received an Award Decision Notice for its SaaS-based GRC platform, Enlighten. The Award Decision Notice is from a public sector organisation and is expected to be worth GBP4.9 million over 5 years. The process is now subject to a short mandatory standstill period, following which the Group expects to sign a definitive contract.

The Company maintains a strong balance sheet with no debt and cash balances at period end of GBP5.4 million (31 October 2014: GBP2.8 million).

Ideagen also announces the launch of its new corporate website at www.ideagen.com, reflecting the integration of the acquired businesses and the amalgamation of several previous sites under the one domain.

David Hornsby, Chief Executive Officer of Ideagen, commented: "I am pleased to report that the strong trading momentum as reported in our full year results has continued into the first half of the current year. We continue to see strong new business demand across all of the Group's products and markets, and the pipeline of opportunities with existing customers continues to build.

"We are also delighted to have received a major Award Decision Notice post period end for our recently launched SaaS-based platform, Enlighten, which is testament to the great development work that has gone into the product and represents only the start of what we believe will be strong market adoption. The Board remains confident in the Group's growth prospect."

Enquiries:

 
 Ideagen plc                          01629 699100 
 David Hornsby, Chief 
  Executive 
 Graeme Spenceley, Finance 
  Director 
 
 finnCap Limited                     020 7220 0500 
 Stuart Andrews/James 
  Thompson (Nomad) 
 Stephen Norcross (Corporate 
  Broking) 
 
 Alma PR 
 Hilary Buchanan                +44 (0)7515 805218 
 Josh Royston                   +44 (0)7780 901979

About Ideagen Group plc

Ideagen is a UK company quoted on the London Stock Exchange AIM market (Ticker: IDEA.LN). Ideagen is a supplier of compliance based Information Management software with operations in the UK, the United States and the Middle East. The Company specialises in eGRC (Enterprise Governance, Risk and Compliance) and Healthcare solutions for organisations operating within highly regulated industries. With an excellent portfolio of software products, Ideagen is able to provide complete content lifecycle solutions that enable organisations to meet their Regulatory and Quality Compliance standards, helping them to reduce costs and improve efficiency.

The Group has a customer base of over 1,500 organisations using the Ideagen suite of products, including many blue chip names such as BAE Systems, Emirates, Shell and the European Central Bank as well as 150 hospitals in the UK and US.

For further information please visit www.ideagen.com

This information is provided by RNS

The company news service from the London Stock Exchange

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