22 Jan 2020 07:00
22 January 2020
Dods Group plc
("Dods" or "the Group")
Trading Update
Dods, a leading technology company specialising in data, code, business intelligence and media announces an update on trading for the year ending 31 March 2020.
The Board expects adjusted EBITDA1 for the financial year ending 31 March 2020 to be at least £2.8m2, post implementation of IFRS 16.
As highlighted in the half year report, the uncertain political and economic environment during 2019 and the General Election in December has adversely impacted our publishing, events and training businesses. The continued focus on Brexit and inactivity of new government policy decisions has resulted in a slow start in the fourth quarter and is likely to persist for the remainder of the financial year.
The Dods business intelligence services and Merit operations are performing well and in line with management expectations.
This announcement is released by Dods Group plc and contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 ("MAR"), and is disclosed in accordance with the Group's obligations under Article 17 of MAR.
For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of the Group by Nitil Patel, Chief Financial Officer.
For further information, please contact:
Dods Group plc
David Hammond - Chairman 020 7593 5500
www.dodsgroup.com
Liberum (Nomad and Broker)
Neil Patel 020 3100 2000
Cameron Duncan
Louis Davies
1. Adjusted EBITDA is defined as earnings before interest, tax, depreciation, amortisation of intangible assets, share based payments and non-recurring items.
2. The impact of implementing IFRS 16 is to increase adjusted EBITDA for the year ended 31 March 2020 by c£1.6 million. The reported £1.4 million adjusted EBITDA for the half year ended 30 September 2019 was after an IFRS 16 adjustment of £0.7 million.