Ingenta PLC Trading Statement (3557B)
January 30 2020 - 2:00AM
UK Regulatory
TIDMING
RNS Number : 3557B
Ingenta PLC
30 January 2020
30 January 2020
Ingenta plc
("Ingenta" or the "Group")
Trading Update
Ingenta plc (AIM: ING), a leading software and services provider
to the publishing and media industry, provides the following
trading update for the year ended 31 December 2019.
The Group expects to report revenue of GBP10.9m and adjusted
EBITDA of approximately GBP1.3m. The Group generated operating cash
inflows of GBP3.5m in the year, before expenditure on research and
development of GBP1.4m, dividends of GBP0.3m and the planned
reorganisation costs of GBP0.5m, resulting in net cash balances at
year-end of GBP2.6m. Cash performance was improved by GBP0.5m of
accelerated cash receipts from the year end annual renewal
cycle.
These headline figures indicate a leaner, more responsive
business better equipped to service its diverse customer base with
a coherent set of solutions and services. During the year, the
business also took the opportunity to incur an impairment charge
against non-core goodwill from historical business combinations of
GBP1.7m.
The Board confirms its intention to pay a dividend of at least
1.5 pence per ordinary share for the 2019 financial year, subject
to shareholder approval at the forthcoming AGM. The Company expects
to announce its final results for the year ended 31 December 2019
at the end of March.
Scott Winner, Chief Executive Officer, commented:
"I'm pleased with the progress made in 2019 and these results
bear testament to the operational efficiencies we have implemented.
The positive news is wide ranging and includes 6 new customer sales
of our Commercial product during the year, having gained
significant traction in the SME market which the Group has
identified as a key strategic opportunity."
"In addition, we have broadened our offering to new verticals,
including Conchord as an IP management solution for the music
industry, and look forward to promoting its benefits in 2020. We
have also taken steps to strengthen Vista's offering for our
customers in the wider publishing industry, and are excited to
continue to serve our loyal client base."
For further information contact:
Ingenta Plc
Scott Winner, Jon Sheffield +44 (0) 1865 397 800
Cenkos Securities plc
Nicholas Wells, Harry Hargreaves +44 (0) 20 7397 8900
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END
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