Last checked at 30 Jan 2020 07:00
30 January 2020
Ingenta plc("Ingenta" or the "Group")
Trading Update
Ingenta plc (AIM: ING), a leading software and services provider to the publishing and media industry, provides the following trading update for the year ended 31 December 2019.
The Group expects to report revenue of £10.9m and adjusted EBITDA of approximately £1.3m. The Group generated operating cash inflows of £3.5m in the year, before expenditure on research and development of £1.4m, dividends of £0.3m and the planned reorganisation costs of £0.5m, resulting in net cash balances at year-end of £2.6m. Cash performance was improved by £0.5m of accelerated cash receipts from the year end annual renewal cycle.
These headline figures indicate a leaner, more responsive business better equipped to service its diverse customer base with a coherent set of solutions and services. During the year, the business also took the opportunity to incur an impairment charge against non-core goodwill from historical business combinations of £1.7m.
The Board confirms its intention to pay a dividend of at least 1.5 pence per ordinary share for the 2019 financial year, subject to shareholder approval at the forthcoming AGM. The Company expects to announce its final results for the year ended 31 December 2019 at the end of March.
Scott Winner, Chief Executive Officer, commented:
"I'm pleased with the progress made in 2019 and these results bear testament to the operational efficiencies we have implemented. The positive news is wide ranging and includes 6 new customer sales of our Commercial product during the year, having gained significant traction in the SME market which the Group has identified as a key strategic opportunity."
"In addition, we have broadened our offering to new verticals, including Conchord as an IP management solution for the music industry, and look forward to promoting its benefits in 2020. We have also taken steps to strengthen Vista's offering for our customers in the wider publishing industry, and are excited to continue to serve our loyal client base."
For further information contact:
Ingenta PlcScott Winner, Jon Sheffield | +44 (0) 1865 397 800 |
Cenkos Securities plcNicholas Wells, Harry Hargreaves | +44 (0) 20 7397 8900 |