AGM Trading Update

RNS Number : 3525B

Sagentia Group PLC

16 April 2012

 



16 April 2012

Sagentia Group plc

("Sagentia" or the "Group")

AGM Trading Update

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

The Group's preliminary results for 2011 were released on 5 March 2012 in which the Group reported that satisfactory progress had been made in consolidating the turnaround achieved in 2010, but that the Group had experienced some effects from the deterioration in the macro-economic environment in the second half of the year.

Since the start of the current year the Group has seen some early signs of an improvement in the general economic situation and renewed interest from the Industrial sector in particular.  Unfortunately, a large project with a North American start-up in the Medical sector has been suspended which will result in Group revenue in the first half of 2012 being lower than the revenue reported in the second half of 2011, despite the underlying business continuing to grow.  Actions have been taken to mitigate this event and these have been effective in enhancing operating margins. As a result for the full year, while revenue will be lower than last year, profit is anticipated to be in line with the Board's expectations.

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

Numis Securities Limited
Nominated Adviser: Oliver Cardigan / Simon Willis Corporate Broking: James Serjeant	Tel: [phone]

Media enquiries:

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

 

END

 

 

MSCBRGDSDGBBGDX