7 Nov 2017 07:00
This announcement contains inside information.
Ideagen PLC
("Ideagen," "the Company" or the "Group'')
Trading Update
Ideagen PLC (AIM: IDEA), a leading supplier of Information Management Software to highly regulated industries, today provides an update on trading for the six months ended 31 October 2017.
The Board is pleased to report that trading has remained strong in the first half of the financial year and expects to report revenue and adjusted EBITDA* significantly ahead of the same period last year with an underlying organic revenue growth of approximately 12%. The Company continues to trade in line with market expectations for the full year to 30 April 2018.
Cash generation in the period was strong and the Company maintains a robust balance sheet with no debt. The cash balance at the period end was £5.9 million (30 April 2017: £4.8 million).
David Hornsby, Chief Executive Officer of Ideagen, commented: "I am pleased to report yet another strong start to Ideagen's financial year. Our core markets are strong and underpin the demand we have seen this half. Cash generation has been excellent and the Group has seen further growth in its recurring revenues and repeat business.
The market opportunity remains large and long term and given the Group's position as a leader in the Governance, Risk and Compliance market, the Board is optimistic about the Group's continued growth prospects."
*Earnings before interest, tax, depreciation, amortisation, share based payments, acquisition costs and other exceptional items.
Enquiries:
Ideagen plc | 01629 699100 |
David Hornsby, Chief Executive |
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Graeme Spenceley, Finance Director |
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finnCap Limited | 020 7220 0500 |
Stuart Andrews/Henrik Persson/James Thompson (Nomad) |
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Stephen Norcross (Corporate Broking) |
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About Ideagen plc
Ideagen is a UK company quoted on the London Stock Exchange AIM market (Ticker: IDEA.L).
Ideagen is a supplier of Information Management software with operations in the UK, the United States and the Middle East. The Company specialises in GRC (Governance, Risk and Compliance) and Content and Clinical solutions with a primary focus on organisations operating within highly regulated industries. With an excellent portfolio of software products, Ideagen is able to provide complete information lifecycle solutions that enable organisations to reduce risk, meet their regulatory and compliance standards, helping them to reduce costs and improve efficiency.
The Group has a customer base of over 3,000 organisations using the Ideagen suite of products, including many blue chip names such as BAE Systems, Emirates, Shell and the European Central Bank as well as 150 hospitals in the UK and US.
For further information please visit www.ideagen.com