5 Apr 2017 07:00
5 April 2017
Castleton Technology plc
("Castleton", the "Group" or the "Company")
Trading Update
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 year ended 31 March 2017 ahead of the announcement of its full year results.
The Company is pleased to announce that revenue and profitability for the year are in line with market expectations. Operating cash generation in the period was significantly better than market expectations, facilitating a continued reduction in the Company's net debt.
The Group expects to announce its preliminary results in late July 2017.
David Payne, Chairman of Castleton, commented:
"I am pleased with the substantial progress Castleton has made in the period having built a leading software and managed services provider in our sector. Meeting our financial targets whilst demonstrating the profitable and cash generative nature of our business is reassuring and we remain focussed on improving our customer proposition and cross-selling our portfolio of products and services. The Board remains 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
MXC Capital Markets LLP Marc Young / Charlotte Stranner |
Tel. +44 (0)20 7220 0500
Tel. +44(0)20 7965 1849 |
Alma PRJosh Royston |
Tel. +44(0) 7780 901979 |
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. Castleton works in partnership with its customers and resellers to help drive efficiencies whilst improving controls and customer service. www.castletonplc.com.