Interim Management Statement

RNS Number : 8827B

Microgen PLC

24 April 2012

 

microgen

www.microgen.com

                                                                             24 April 2012

INTERIM MANAGEMENT STATEMENT

Ahead of the Company's Annual General Meeting later today, Microgen plc ('Microgen' or 'the Group') provides its Interim Management Statement covering the period from 1 January 2012 to the date of this announcement. Microgen released its final results for year ending 31 December 2011 on 27 February 2012.

There have been no significant changes since 1 January 2012 in the trading or financial position of Microgen and its balance sheet remains strong. The Group had cash at 31 March 2012 of £29.4 million (31 December 2011 : £27.0 million) prior to the proposed dividend payment in May of £1.8 million.

In addition to the existing relationship with Teradata, the Microgen Aptitude Solutions Division announced a partnership with NRI in Japan and is currently exploring other partnerships targeting new market opportunities.

The Board anticipates reporting operating profit in line with market expectations for the six months ending 30 June 2012, but remains cautious given on-going market uncertainty as noted at the time of the final results. The Group's significant recurring revenue base and predominantly annual licensing model does, however, continue to provide resilience against the full effects of the macro-economic environment.

Contacts

Martyn Ratcliffe, Chairman                                020-7496-8100

David Sherriff, Chief Executive Officer

Philip Wood, Group Finance Director

James Melville-Ross, FTI Consulting                  020-7831-3113

Clare Thomas, FTI Consulting

 

END

 

 

IMSIJMITMBTTBFT