Embargoed Release: 07:00hrs 5 July 2010
SAGENTIA GROUP PLC
('Sagentia' or the 'Group')
Pre-Close Trading Update
Sagentia Group plc is an international technology consulting company providing outsourced R&D consultancy services from market analysis, through product development to transfer-to-manufacturing for the medical, consumer and industrial sectors.
The Group's profit for the period ended 30 June 2010 is anticipated to be substantially ahead of market expectations with PBT for the 6 month period ahead of the current market forecast for the year as a whole. This significant turnaround in performance, compared to the loss reported in the first half of 2009, is due to the restructuring undertaken in the second half of last year and strong trading in the first half of 2010.
As a result of the successful Placing, raising £7.7 million net of expenses, the first half operating performance and the cash flow seasonality, cash at 30 June 2010 was £12.5 million, with debt of £5.9 million, producing net funds of £6.6 million, compared to net debt at 30 June 2009 of £4.8 million.
The Interim Results for Sagentia Group plc are anticipated to be released in late July.
Enquiries:
Sagentia Group plc
Martyn Ratcliffe, Chairman
Brent Hudson, Chief Executive
Guy McCarthy, Finance Director
(44) 1223 875 200
Arbuthnot Securities:
Nick Tulloch
(44) 207 012 2000