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7 Jul 2011 07:00
7 July 2011
MICROGEN plc
TRADING UPDATE AND NOTICE OF RESULTS
Microgen plc ('Microgen' or 'the Group') provides an update on trading ahead of the Group's Interim Results, for the six months ended 30 June 2011, which are expected to be released on 21 July 2011.
The Group's performance in the first half of 2011 is anticipated to be ahead of the Board's expectations. During the first half of 2011, Microgen Aptitude Solutions Division has seen continued growth, benefitting from both contracts with new clients and extending the use of Microgen's software within the existing customer base. The Financial Systems Division has continued to show resilience in a flat market benefitting from its high levels of recurring revenue and strong margins. As a result, the Board now anticipates earnings for the full year to be ahead of current market expectations.
The Group's cash balance at 30 June 2011 was £26.9 million (30 June 2010 : £25.0 million) after returning £8.6 million to shareholders by way of dividend and the tender offer in the prior twelve months.
Contacts
Martyn Ratcliffe, Chairman 020-7496-8100
David Sherriff, Chief Executive Officer
Philip Wood, Group Finance Director
James Melville-Ross, Financial Dynamics 020-7831-3113
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