Ubisense Group PLC Trading Update (6538M)
August 01 2017 - 2:00AM
UK Regulatory
TIDMUBI
RNS Number : 6538M
Ubisense Group PLC
01 August 2017
1 August 2017
Ubisense Group plc (the "Company")
Trading Update
Ubisense Group plc ("Ubisense" or the "Company") (LON:UBI), a
market leader in enterprise location intelligence solutions,
announces an update on current trading following the close of the
Company's first half ended 30 June 2017.
Financial performance in the first half is expected to deliver
revenue in excess of GBP12 million (2016: GBP10.6 million) and the
order backlog remained at a similar level to the prior year. Cash
balances in the company were GBP6.4 million (2016: GBP5.0 million)
and net funds GBP3.2 million (2016: GBP1.0 million net funds). This
performance was primarily driven by growth in the Company's
Real-Time Location System division ("RTLS") division.
Within the RTLS division, deployments with German automotive
customers have driven first half revenues, noteworthy orders in the
period included a new Turkish car plant and a European automotive
customer. Since 30 June 2017, the Company has secured an order in
excess of GBP1 million with a new North American aerospace and
defence customer for a strategic productivity enhancing solution,
with revenue to be recognised in the second half of 2017.
For the Geospatial division, key North American orders include
extensions of existing myWorld deployments with two customers and
the first sale of the newly released product, myWorld Fibre
Planning, to be recognised in the second half of 2017. These deals
help to offset the ongoing decline in legacy GE Smallworld related
geospatial services revenues.
The Company continues to trade in line with Board
expectations.
Effective today, the Company is pleased to confirm that Peter
Harverson will resume the position of non-Executive Chairman on
1(st) August 2017 in line with previous communications.
Richard Petti CEO said "Whilst we are still in the early stages
of our new software oriented strategy I am encouraged with how our
customers have responded to our new approach, and this has
delivered improved results on the same period in 2016."
The Company expects to announce its results for the 6 months
ending 30 June 2017 in September 2017.
For further information contact:
Ubisense Group plc +44 (0) 1223 535170
Richard Petti
Tim Gingell
Numis Securities Limited +44 (0) 20 7260 1000
Simon Willis
Jamie Lillywhite
Toby Adcock
Redleaf Communications +44 (0) 20 7385 4730
David Ison
Sam Modlin
About Ubisense
Ubisense (AIM: UBI), is a global leader in Enterprise Location
Intelligence Solutions, proven to drive quality, reduce costs,
manage complexity and increase productivity for its customers
across the world. Central to its offering are two powerful IIoT
software platforms that can take data from any source to provide
visibility of customers' operations. Offering in-depth knowledge of
the sectors in which it operates across the world, Ubisense has
long standing relationships with many customers across target
markets including automotive, aerospace, logistics, communications
and utilities. Founded in 2002, Ubisense is headquartered in
Cambridge, England, with operations in North America, Germany,
France and Japan. www.ubisense.net
This information is provided by RNS
The company news service from the London Stock Exchange
END
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