Instem plc Trading Update (6616L)
January 13 2016 - 2:00AM
UK Regulatory
TIDMINS
RNS Number : 6616L
Instem plc
13 January 2016
Instem plc
("Instem", the "Company" or the "Group")
Trading Update
Instem plc (AIM: INS), a leading provider of IT solutions to the
global early development healthcare market, announces a trading
update for the year ended 31 December 2015.
Revenue for the 12 month period is expected to be ahead of
consensus market estimates at approximately GBP15.8m (2014:
GBP13.4m), of which recurring revenue will be at least GBP9.6m
(2014: GBP9.2m). Both new and existing clients contributed well
during the year while also generating a strong backlog of orders
and increasing recurring revenues.
Net cash as of 31 December 2015 is also expected to be ahead of
market estimates at GBP2.1m (31 December 2014: GBP1.7m) due to a
combination of the growth in activity and efficient working capital
management.
The Company has taken the opportunity during 2015 to increase
investment in its growth markets in the expectation that this will
drive future growth and earnings. One such area is the US Food
& Drug Administration mandated Standard for the Exchange of
Non-clinical Data (SEND), where market interest is continually
building. Instem secured the majority of SEND technology related
customers and contracts placed globally during 2015.
Overall earnings for the year are expected to be in line with
current market expectations.
Phil Reason, CEO of Instem plc, commented; "We are pleased with
the financial results that the Company has achieved over the past
12 months and the continuing market leadership we have enjoyed
across our product lines. Furthermore, I have been delighted with
the performance of the acquisitions of Logos and Perceptive,
announced two years ago, which have both achieved their earn-out
targets, enabling full integration into the wider Group.
"All the indicators for 2016 suggest it will be another year of
profitable growth for the business with the inherent operational
gearing delivering increased earnings, further enhancing
shareholder value".
For further information, please contact:
Instem plc +44 (0) 1785 825 600
Phil Reason, CEO
Nigel Goldsmith, CFO
N+1 Singer (Nominated
Adviser & Broker) +44 (0) 20 7496 3000
Richard Lindley
Nick Owen
Walbrook Financial PR +44 (0) 20 7933 8000
Paul Cornelius instem@walbrookpr.com
Helen Cresswell
Sam Allen
About Instem plc
Instem is a leading supplier of IT applications to the early
development healthcare market, delivering compelling solutions for
data collection, management and analysis across the R&D
continuum. Instem applications are in use by customers worldwide,
meeting the rapidly expanding needs of life science and healthcare
organisations for data-driven decision-making leading to safer,
more effective products.
Instem's portfolio of software solutions increases client
productivity by automating study-related processes while offering
the unique ability to generate new knowledge through the extraction
and harmonisation of actionable scientific information.
Instem supports over 400 clients from offices in the United
States, the United Kingdom, India, China and Japan, with an
additional presence in France.
To learn more about Instem solutions and its mission, please
visit www.instem.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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