Ingenta PLC Pre Close Trading Update (9723N)
August 15 2017 - 2:00AM
UK Regulatory
TIDMING
RNS Number : 9723N
Ingenta PLC
15 August 2017
15 August 2017
Ingenta plc
Pre Close Trading Update
Ingenta plc ("Ingenta" or the "Group"), a leading software and
service provider to the publishing and media industry, is pleased
to provide the following trading update for the period ended 30
June 2017.
The Group's financial performance for the first half of the year
has been in line with the Board's expectations. The Company has
continued to see positive progress in terms of revenues and
margins. Revenues for the six months ended 30 June 2017 were
GBP7.7m and Earnings Before Interest, Tax, Depreciation and
Amortisation(*) were GBP0.7m. The cash balance was GBP1.3m at
period end.
Since its acquisition in 2016, 5 Fifteen has been successfully
integrated and the Company is pleased to report continued sales
growth within the division.
Trading in the Chinese Joint Venture has been challenging in the
first half and it will report interim losses. Action taken together
with new contract wins should show positive results in the second
half of the year.
Ingenta intends to announce its interim results on 13 September
2017.
David Montgomery, Chief Executive Officer, commented:
"I am pleased to report continued progress for Ingenta in the
first half of the year. We have continued to hire senior employees,
particularly in the sales and marketing department, in order to
assist with our growth and development.
The second half of the year has started well and a key new
advertising contract has been signed which will broaden our reach
into new global territories. There are also promising opportunities
being progressed to allow us to move into adjacent markets which
will be an important factor in our future success.
(*) Earnings before Interest, Tax, Depreciation and Amortisation
is calculated before foreign exchange differences and restructuring
costs.
For further information, please contact:
David Montgomery
Ingenta plc, Tel: 01865 397 800
Nicholas Wells, Elizabeth Bowman
Cenkos Securities plc, Tel: 0207 397 8900
This information is provided by RNS
The company news service from the London Stock Exchange
END
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