9 Oct 2017 07:00
9 October 2017
Castleton Technology PLC
("Castleton", the "Group" or the "Company")
Trading Update and Notice of Interim Results
Castleton Technology plc (AIM: CTP), the software and managed services provider to the public and not-for-profit sectors, is pleased to provide the following update on trading for the six-month period to 30 September 2017.
The Company is pleased to announce that revenue and profitability for the six-month period to 30 September 2017 have grown organically by c. 10% and support a full year performance in line with market expectations.
Strong operating cash generation in the period has facilitated a continued reduction in net debt, which has decreased from £9.4m as at 31 March 2017 to £7.9m as at 30 September 2017.
The Group expects to announce its results for the six-month period to 30 September 2017 on 7 November 2017.
David Payne, Chairman of Castleton, commented:
"I am pleased with the progress Castleton has made in the period and as such, the Group remains on course to meet expectations for the full year. Our financial performance, along with a number of significant milestones previously reported to the market, including the delivery of the integrated product suite, is particularly pleasing. This demonstrates the capability of the Group to deliver on its strategy and increase our share in our chosen markets. The Board remains very confident about Castleton's future prospects."
Enquiries:
Castleton Technology plc Dean Dickinson, Chief Executive Officer Haywood Chapman, Chief Financial Officer
| Tel. +44 (0)845 241 0220
|
finnCap Jonny Franklin-Adams / Simon Hicks
| Tel. +44 (0)20 7220 0500
|
MXC Capital Markets LLP Marc Young / Charlotte Stranner
| Tel. +44(0)20 7965 1849
|
Alma PRRebecca Sanders-Hewett Helena Bogle Josh Royston | Tel. +44(0) 203 865 9668 |
About Castleton Technology plc
Castleton Technology plc is a leading supplier of complementary software and managed services to the public and not-for-profit sectors. The acquisitions of Montal, Documotive, Opus, Keylogic, Brixx, Impact Applications and Kypera bring together an exceptional suite of solutions, providing the foundation for this platform. Castleton works in partnership with its customers and resellers to help drive efficiencies whilst improving controls and customer service. www.castletonplc.com
The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.