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17 Feb 2014 07:00
17 February 2014
Electronic Data Processing PLC (EDP)
Interim Management Statement
EDP, an IT solution provider to the UK wholesale distribution industry and a supplier of Sales Intelligence software more widely, today publishes an Interim Management Statement covering the period from 1 October 2013 to 14 February 2014.
Material Events and Transactions
There were no material events or transactions.
Business Performance
Trading conditions and activity levels in the sectors we address remain broadly similar to those experienced in the previous financial year.
However, as reported in our results for the year to 30 September 2013, business confidence remains patchy and, as a result, we see many organisations continuing to exercise a significant degree of caution when assessing their IT expenditure decisions.
Financial Position
Contracted recurring revenues, which relate principally to on-going software licence fees and hosting charges, remain strong and represent 86% of turnover year to date.
We have a strong, debt-free balance sheet with cash balances of £5.6 million at 14 February 2014.
Outlook
Our robust business model and significant financial strength place us in a strong position to take advantage of those opportunities which do arise in the future including possible acquisitions.
For further information please contact:
Julian Wassell
Chief Executive
0114 262 2010
James Storey
Finance Director
0114 262 2010
Toby Mountford
Citigate Dewe Rogerson
020 7638 9571
07710 356611
www.edp.co.uk
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