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18 Dec 2013 08:00
18 December 2013
IBEX Global Solutions plc
("IBEX" or "the Company")
Pre-Close Trading Update
IBEX Global Solutions plc (AIM: IBEX), a leading provider of contact centre services and other business process outsourcing (BPO) solutions, is pleased to provide a trading update in advance of entering a closed period with respect to its results for the six months ended 31 December 2013.
During the period the business has continued to see strong support from its existing client base and has successfully won contracts with several new customers. Revenue for the interim period is now expected to be significantly ahead of management's earlier expectations. To support this additional growth, management is investing in physical infrastructure and workforce capacity at a level higher than previously planned, with a potential for slight pressure on like-for-like EBITDA margins in fiscal 2014. Estimated net income for fiscal 2014 will also reflect several incremental one-time items associated with higher levels of revenue, such as the transition costs of bringing on a larger line of credit to support the more rapid than previously forecast expansion. For fiscal 2015 and beyond, management anticipates both higher revenue and profitability relative to its earlier expectations.
To accommodate this growth, the Company is pleased to announce that it has opened new facilities in Davao, Philippines and New Braunfels, Texas. Collectively, these facilities will accommodate approximately 2,000 additional staff, expanding the Company's global workforce to over 10,000 employees. Both sites will deliver a full suite of BPO services such as customer care, email, chat and back office support for a variety of clients. In addition, due to further demands from both current and existing customers, IBEX is currently evaluating the launch of a fifth location in the Philippines for the 2nd half of FY2014.
For further information, please visit www.ibexcorp.com or contact:
IBEX Global Solutions plc Steve Kezirian, CEO Karl Gabel, CFO
| Tel: +800 043 4239 |
Liberum Capital Limited Nominated Adviser and Joint Broker Steve Pearce Richard Bootle Joshua Hughes
| Tel: +44 20 3100 2000 |
Cenkos Securities PLC Joint Broker Liz Bowman Camilla Hume
| Tel: +44 20 7397 8900 |
Tavistock Communications Matt Ridsdale Andrew Dunn
| Tel: +44 20 7920 3150 |
About IBEX
IBEX is a leading global provider of business process outsourcing services. Headquartered in Washington, DC and listed on the London Stock Exchange (AIM: IBEX), IBEX maintains a global workforce of over 9,000 serving more than 70 leading corporations with complex, enterprise-scale outsourcing solutions. With operational presence in the United States, the Philippines, Pakistan, Senegal, and United Kingdom, IBEX delivers a multi-language and multi-cultural service capability focused on innovation and adding intellectual value.
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