Trading Update

RNS Number : 1887U

Ingenta PLC

16 January 2017

 

16 January 2017

Ingenta plc

Trading Update

Ingenta plc ("Ingenta" or the "Group"), a leading software and service provider to the publishing and media industry, is pleased to provide the following trading update for the year ended 31 December 2016.

The Group's financial performance continues the recovery shown in the first half of the year, with positive progress in terms of revenues, margins, costs, and cash flow. As a result, the Board is confident that the business will exceed market expectations for EBITDA and cash for the full year, with a year-end net cash balance of approximately £2 million. The Board reiterates its intention to pay a dividend of 1 pence per ordinary share for the 2016 financial year, the first dividend in the Group's history.

Ingenta intends to announce its full year results during March.

David Montgomery, Chief Executive Officer, commented:

"I am pleased that the actions we have taken are delivering a substantially improved financial performance.

Following several years of product investment, we achieved a significant increase in new business wins in 2016. We also made a number of new senior hires which we expect will positively impact the business going forward.

In addition to underpinning the results for 2016, these new wins and the existing high level of recurring revenues provide a solid base for continued progress in 2017 and beyond. Our priorities are to drive sales growth whilst maintaining a disciplined approach to costs and cash."

For further information contact:

Ingenta Plc David Montgomery	[phone]
Cenkos Securities plc Nicholas Wells Elizabeth Bowman	[phone]

This announcement contains inside information.

 

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