Ingenta PLC Change of Results Date (1301I)
March 31 2020 - 2:00AM
UK Regulatory
TIDMING
RNS Number : 1301I
Ingenta PLC
31 March 2020
31 March 2020
Ingenta plc
("Ingenta" or the "Group")
Change of Results Date
Ingenta plc (AIM: ING), a leading software and services provider
to the publishing and media industry, provides the following update
regarding its preliminary results announcement for the year ended
31 December 2019.
The ongoing COVID-19 pandemic is causing significant uncertainty
within global markets and, following recent regulatory guidance and
advice from the Group's auditors, the Board has decided to postpone
the announcement of its results until a sensible assessment can be
made. The Board, in conjunction with the Company's advisors, will
update the market on a revised timetable as soon as
practicable.
As announced on 30 January 2020, the Group expects to report
revenues of GBP10.9m and adjusted EBITDA of approximately GBP1.3m.
Adjusted operating cash inflows of GBP3.5m benefited from GBP0.5m
of accelerated cash receipts from the year end annual renewals
cycle. The adjusted operating cash inflows are reported before
research and development costs of GBP1.4m and restructuring costs
of GBP0.5m.
At the end of February, the business had GBP3.7m of cash which
was deemed sufficient to cover any medium-term impact of the
COVID-19 outbreak. The Group has implemented full remote working
and business operations remain unaffected. To date, current trading
has held up although delays are anticipated in new sales activity
as companies delay investment decisions.
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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