AGM Statement
14 September 2020
The Panoply Holdings PLC
("The Panoply", or the "Group")
AGM Statement
At the Company's Annual General Meeting, being held today at 9am, Mark Smith, Chairman of The Panoply, will make the following statement:
"Following the Group's record performance in the first quarter, in which we delivered organic revenue growth of 10% on a like-for-like basis, I am pleased to report that trading remains strong. The Group has signed approximately £10m of new contract wins in the first two months of the current quarter, including a £1.8m contract win with Cheshire West and Chester Council, and Cheshire East Council, as well as the previously announced Land Registry contract. In addition, we have enhanced our offering by welcoming Arthurly and Difrent to the Group, with the integration of both companies progressing well".
"The Board are confident that results for the full year will be in line with their recently upgraded expectations and in their ability to achieve their three-year commercial vision to deliver £100m run rate revenue by 31 March 2023 with EBITDA of £12-14m.
"The Group anticipates the positive momentum to continue and we look forward to providing further updates to the market in due course."
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About The Panoply
The Panoply is a digitally native technology services company, built to service clients' digital transformation needs. Founded in 2016, with the aim of identifying and acquiring best-of-breed specialist information technology, design and innovation consulting businesses, the Group collaborates with its clients to deliver the technology outcomes they're looking for at the pace that they expect and demand.
The Group is being increasingly recognised as a leading alternative digital transformation provider to the UK public services sector, with c.70% of its client base representing the public sector and c.30% representing the commercial sector.
More information is available at www.thepanoply.com
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