Last checked at 19 Jan 2009 07:01
Publishing Technology PLC ("Publishing Technology", the "Group" or the "Company")
Trading Update
Publishing Technology (PTO.L), the provider of targeted software and consulting solutions for publishers and information providers, announces the following update on trading for the year ended 31 December 2008.
The Group's focus for the year has been on higher margin activities and increasing revenues whilst rationalising costs. Consequently, the Board is pleased to announce that it expects the Company's results for the year ended 31 December 2008 to be in line with market expectations.
The Company's order book for 2009 is healthy, ahead of this time last year and the Board expects another year of continued improvement in the underlying business. The Board believes that the Company is in a strong position to capitalise on some exciting potential revenues from new customers and new product roll-outs.
A further update will be given at the time of the Company's preliminary results which are expected to be released in mid-March 2009.
George Lossius, CEO of Publishing Technology commented:
"In recessionary times companies focus on operational efficiency, removing unnecessary costs and trying to maximise revenues from existing assets. These are exactly the issues that we have been helping publishers with, which have helped us to continue to expand and see both revenue and profits grow over the past 12 months.
Our substantial recurring revenues, approximately 65% of 2008's expected revenues, form a strong base for our business, and in 2009 we will see the full benefit of the BioOne contract which kicked off in Q3 2008, adding US$1m to our PCG divisions revenues, and considerably improving the traditional margins of this division.
We are looking forward to the unique challenges of 2009, and expect it to be another year of further growth."
For further information please contact:
Publishing Technology PLC
George Lossius/Alan Moug 01865 397800
Arbuthnot Securities Limited
Tom Griffiths 020 7012 2000
The Communication Group plc
Richard Evans 020 7630 1411 / 0775 108 7291
Kit Bingham 020 7630 1411 / 0788 074 8672
Notes to Editors:
www.publishingtechnology.com Publishing Technology's brands include IngentaConnect, VISTA, author2reader, pub2web, ICS and PCG. The Publishing Technology group enables publishers to focus on their core competences by providing a single, trusted partner for both technology requirements and business development services. The group's proposition uniquely spans front and back office systems - complemented by a range of business development services - to provide the industry's only end-to-end suite of software specifically designed to support the publishing process. Capabilities cover editorial & production, product information, billing & fulfillment, content conversion & hosting, website development, marketing programs, information commerce, customer relationship management, rights & royalties and business intelligence. Clients include leading book publishers such as, Hachette, Random House, Penguin and Reed Elsevier, top corporate, academic research library and on line clients, such as Columbia University Library, and Glaxo SmithKline's research library, BBC Monitoring, the BBC's mass media monitoring arm, and a number of multilateral institutions, such as the World Bank, the IMF, and OECD.