AGM Trading Update

RNS Number : 5894G

Sagentia Group PLC

16 May 2011

 



16 May 2011

Sagentia Group plc

("Sagentia" or the "Group")

AGM Trading Update

Sagentia Group plc (AIM:SAG), the international technology consulting company which provides outsourced R&D consultancy services, reports the following trading update ahead of the Company's Annual General Meeting this morning.

The Group's preliminary results for 2010 were released on 28 February 2011 when a strong turnaround in operating performance was reported.  Since the start of the current year, the Group has continued to perform well, with profit at the end of April materially ahead of the Board's expectations.  The Medical Sector has performed particularly strongly in the first part of the year.  At 30 April 2011, the Group's gross cash was £17.2 million with net cash of £9.5 million.

While the market characteristics provide limited forward visibility, the actions taken in 2010 have significantly improved the Group's controllable risk profile.  As a result, and combined with the strong start to the year, the Board is cautiously optimistic for the year ahead.

With a strong balance sheet, the Board continues to evaluate potential merger and acquisition opportunities, although remains prudent in this process.

- Ends -

For further information:

Sagentia Group plc
Martyn Ratcliffe, Chairman
Brent Hudson, Chief Executive	Tel: [phone]
Neil Elton, Finance Director	www.sagentia.com

Arbuthnot Securities
Nick Tulloch / Paul Gillam	Tel: [phone]
	www.arbuthnot.co.uk

Media enquiries:

Abchurch
Henry Harrison-Topham / Claire Dickinson	Tel: [phone]
[e-mail]	www.abchurch-group.com

 

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