Universe Group PLC Trading Update (5279X)
November 27 2017 - 2:00AM
UK Regulatory
TIDMUNG
RNS Number : 5279X
Universe Group PLC
27 November 2017
27 November 2017
AIM: UNG.L
Universe Group plc
("Universe", the "Group" or the "Company")
TRADING UPDATE
Universe Group plc (AIM: UNG.L), a leading developer and
supplier of point of sale, payment and loyalty systems, gives the
following update on trading ahead of the announcement of the full
year results for year to 31 December 2017, which are expected to be
announced in April 2018.
As reported in the Interim Results released on 26 September
2017, the out turn for the year has been dependent on the Group's
ability to close and execute a small number of high value contracts
prior to the year end. It is now clear this is unlikely to happen
in time.
Accordingly, for the year to 31 December 2017 the Group's
revenues are now expected to be approximately GBP19.5m with an
adjusted EBITDA of around GBP2.7m. At 31 December 2017, the Group
expects to have net cash of close to GBP1.5m.
Jeremy Lewis, Chief Executive of Universe Group plc,
commented:
"It is disappointing not to have executed the deals we had
planned in this financial period, even though we believe they will
happen in early 2018. The business continues to operate with a
strong recurring revenue base, however the arrival of material new
contracts can cause swings in our financial results. We have
accordingly adopted a prudent approach to forecasting these."
For further information:
Universe Group plc T: +44 (0)2380 689 510
Andrew Blazye, Non-Executive Chairman
Jeremy Lewis, Chief Executive
finnCap
T: +44 (0)20 7220 0500
Stuart Andrews / Henrik Persson (Corporate Finance)
Richard Chambers (Corporate Broking)
IFC Advisory
T: +44 (0)20 7652 9781
Tim Metcalfe
Heather Armstrong
About Universe Group plc:
Universe provides some of the world's leading retailers with
point of sale, payment and loyalty solutions. The Group's solutions
are based on its own proprietary software and are offered out of
the cloud on a software as a service model with its data centres
processing over 5 billion transactions every year. For further
information, please see www.universe-group.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
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