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24 Apr 2012 07:00
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
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