Pre Close Trading Update

RNS Number : 9723N

Ingenta PLC

15 August 2017

 

15 August 2017

Ingenta plc

Pre Close Trading Update

Ingenta plc ("Ingenta" or the "Group"), a leading software and service provider to the publishing and media industry, is pleased to provide the following trading update for the period ended 30 June 2017.

The Group's financial performance for the first half of the year has been in line with the Board's expectations. The Company has continued to see positive progress in terms of revenues and margins. Revenues for the six months ended 30 June 2017 were £7.7m and Earnings Before Interest, Tax, Depreciation and Amortisation^* were £0.7m. The cash balance was £1.3m at period end.

Since its acquisition in 2016, 5 Fifteen has been successfully integrated and the Company is pleased to report continued sales growth within the division.

Trading in the Chinese Joint Venture has been challenging in the first half and it will report interim losses. Action taken together with new contract wins should show positive results in the second half of the year.

Ingenta intends to announce its interim results on 13 September 2017.

David Montgomery, Chief Executive Officer, commented:

"I am pleased to report continued progress for Ingenta in the first half of the year. We have continued to hire senior employees, particularly in the sales and marketing department, in order to assist with our growth and development.

The second half of the year has started well and a key new advertising contract has been signed which will broaden our reach into new global territories. There are also promising opportunities being progressed to allow us to move into adjacent markets which will be an important factor in our future success.

^*Earnings before Interest, Tax, Depreciation and Amortisation is calculated before foreign exchange differences and restructuring costs.

 For further information, please contact:

David Montgomery

Ingenta plc, Tel: [phone]

Nicholas Wells, Elizabeth Bowman

Cenkos Securities plc, Tel: [phone]

 

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