Last checked at 22 Apr 2010 07:00
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