Nasstar PLC Trading Statement (0686W)
July 30 2018 - 2:00AM
UK Regulatory
TIDMNASA
RNS Number : 0686W
Nasstar PLC
30 July 2018
30 July 2018
Nasstar plc
("Nasstar" or the "Company")
Trading Statement
Nasstar (AIM: NASA), the provider of hosted managed and cloud
computing services, is pleased to provide the following trading
update for the six months ended 30 June 2018.
Visibility on full year expectations is good and the Board
remains confident that the 2018 full year results will be in line
with management expectations. We remain net cash positive and well
positioned to continue to grow both revenues and profits.
Now in the second year of the "Nasstar 10-19" programme we have
continued to focus on integration whilst continuing to invest in
additional engineering resource to deliver the large contract
announced last November.
As a result of switching to paying VAT on account, as previously
announced in May this year, and Nasstar's decision to invest in
additional engineering resource in order to speed up contract
delivery the net cash position has remained stable at GBP0.9
million as at 30 June 2018.
As previously announced Nasstar has adopted IFRS 9, IFRS 15 and
IFRS 16 from the start of the current financial year and the
results for the six months ended 30 June 2018 reflecting this are
expected to be announced on 24 September 2018.
For further information, please contact:
Nasstar plc +44 (0) 1952 225 000
Nigel Redwood, Chief Executive Officer
Niki Redwood, Finance Director
finnCap Limited (Nominated Adviser & Broker) +44 (0) 20 7220 0500
Julian Blunt, James Thompson (Corporate Finance)
Stephen Norcross (Corporate Broking)
IFC Advisory (Financial PR) +44 (0) 20 3934 6630
Tim Metcalfe, Graham Herring, Miles Nolan
About Nasstar plc
Nasstar (www.nasstar.com) and its wholly owned operating
businesses provide hosted managed and hybrid cloud computing
services, integrating private and public clouds supplying a robust,
secure and stable hosted Information Technology service to business
customers. The Group provides a true end to end service for clients
providing them with enhanced IT performance and greater cost
control over their IT function. The Group owns its primary data
centre, is head quartered in Telford with regional offices in
Northampton, London and Bournemouth whilst 24 x 7 support is
delivered from its Auckland office in New Zealand. Nasstar is an
accredited Microsoft Gold Partner, is the 2016 Citrix Networking
Partner of the Year and is certified to ISO 27001.
Nasstar specialises in building bespoke hybrid cloud hosted
services to manage a client's entire application set, tailor made
to suit specific industries, designing public, private and hybrid
cloud solutions to meet the objectives of the client. The solution
is a highly scalable service that provides benefits including
"Anywhere Access" to computing; a standardised corporate solution
that can be accessed globally in multiple languages; generating
cost savings when compared to the traditional IT ownership model
whilst replacing capital expenditure with a simple usage based
payment model.
Nasstar (AIM:NASA) was founded in 1998, admitted to AIM in
December 2005, acquired e-know.net Limited in a reverse takeover in
January 2014, Kamanchi Limited in July 2014, VESK in October 2015
and Modrus Limited in September 2016.
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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