Interim Management Statement

RNS Number : 5791K

Microgen PLC

22 April 2010

 



microgen

www.microgen.com

22 April 2010

INTERIM MANAGEMENT STATEMENT

Microgen plc ('Microgen' or 'the Group') announces its Interim Management Statement covering the period from 1 January 2010 to the date of this announcement.  Microgen announced its final results for the year ending 31 December 2009 on 18 February 2010.

The Group's financial results for the three months ended 31 March 2010 are in line with the Board's expectations. There have been no significant changes in the trading or financial position of Microgen and its balance sheet remains strong. Microgen closed the quarter with £24.6 million of cash (31 December 2009: £24.2 million) and net funds of £22.5 million (31 December 2009: £22.0 million) after the payment of the 2009 final dividend in March 2010 and other seasonal payments. 

The Microgen Aptitude Solutions Division has made a solid start to the year and the Board remains positive on the division's growth projections for 2010. The Financial Systems Division is trading in line with the Board's expectations reinforced by the high levels of recurring revenue and strong cash flows.

Contacts

Martyn Ratcliffe, Chairman 01252-772300

David Sherriff, Chief Operating Officer

Philip Wood, Group Finance Director

James Melville-Ross, Financial Dynamics 020-7831-3113

Haya Herbert-Burns, Financial Dynamics

 

END

 

 

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