Ingenta PLC
1 August 2002
Date: Embargoed until 07.00am, Thursday 1st August 2002
Contacts: Ingenta Website: www.ingenta.com
Mark Rowse, Chief Executive Tel: 01865 799010
David Callcott, Finance Director Tel: 01225 361020
Hudson Sandler
Alistair Mackinnon-Musson Tel: 020 7796 4133
Philip Dennis email:ingenta@hspr.co.uk
Ingenta plc
Following completion of the trading period to 30th June 2002, marking the close
of Ingenta's third quarter, the Board is pleased to report that the Company has
continued to experience substantial growth and is on track to produce a modest
profit before tax and goodwill amortisation for the year to 30th September 2002.
Publisher services activity continues to be strong with over twice as many new
customer contracts closed in the third quarter this year compared with last
year.
Pay-per-view revenue growth has increased with results over 80% ahead of the
comparable period in 2001.
Within the Specialist Websites activity, a number of major new contracts have
been closed including a foreign language journal portal for the French market
and a scholarly monograph service. However, a lengthening of the order cycle
in this area in the third quarter is likely to have the effect of some revenue
in this division falling outside the current financial year. This is likely to
result in sales in this division for the current year being lower than
previously expected.
Taken as a whole, the Board is confident that the outcome for the year will show
overall turnover growth in excess of 50% compared with 2001. Together with
sustained high gross margins and a stable operating cost base, this should
generate the Company's first full year profit before tax and goodwill
amortisation for the year to 30th September 2002, an improvement of well over
£11million compared with 2001.
Mark Rowse, Chief Executive, commented: 'Despite a lengthening of the order
cycle in Specialist Websites, the Company is performing well and is on track to
move into profitability at the pre-tax level for the current year. Our
underlying markets continue to support strong rates of growth and we have
continued to build recurring revenues, both through adding substantial numbers
of new customers and through providing new services to our existing clients.'
This information is provided by RNS
The company news service from the London Stock Exchange
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