Microgen PLC
15 December 2005
microgen
Information Management Solutions
www.microgen.co.uk
15 December 2005
For release at 7-00am
Pre-Close Trading Update
For the year ending 31 December 2005, the Board currently anticipates reporting
profit before tax, intangible amortisation and exceptional items slightly ahead
of current analyst consensus, on revenue slightly below current analyst
consensus. This is consistent with the market environment reported at the time
of the interim results and the Board's focus on profit and cash flow.
The integration of the acquisitions announced in July has been completed and the
integration of the acquisition of Milvus Software announced in November is well
advanced and progressing satisfactorily.
The Operating Board of the Group has been strengthened through the recruitment
of two new Managing Directors, one for the Group's Commercial business unit who
started on 5 December and one for the Group's Banking business unit who will
start in early 2006. These appointments, together with an increased investment
in sales and marketing, will position the Group to benefit from the new products
which have been launched in 2005 and those scheduled for launch in 2006.
The Group has now drawn down the commercial mortgage secured on its long
leasehold and recently-acquired freehold properties which was being negotiated
at the time of the interim results. As a result, cash balances at 30 November
were £11.5 million with net funds of £5.5 million.
The Preliminary Results for the year ending 31 December 2005 are anticipated to
be released in early March 2006.
Contact:
Mike Phillips, Group Finance Director 01252-772312
Giles Sanderson, Financial Dynamics 020-7831-3113
Ben Way, Financial Dynamics
This information is provided by RNS
The company news service from the London Stock Exchange
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