Last checked at 27 Jan 2017 07:00
27 January 2017
Ubisense Group plc
("Ubisense" or the "Company")
Trading Statement
Ubisense Group Plc (AIM: UBI) a leader in high performance Enterprise Location Intelligence systems, through its RTLS and mobility focused geospatial (myWorld) offerings, is pleased to provide the following trading update for the year ending 31 December 2016.
The Company showed continued good progress in terms of revenue growth, margins, cost management and order book, all of which are significantly better than those achieved in 2015. The increased focus on our RTLS software platform has paid off with the signing of a global software licence deal with a major automotive manufacturer. We also signed some significant new and extended RTLS product orders. In the geospatial division, we are seeing increased demand for myWorld services projects and new licence sales.
The Company expects to report a net cash positive position as at 31 December 2016, which has improved in January through significant debtor collections, and is in compliance with the banking covenants on its new HSBC facility.
Peter Harverson, Executive Chairman, commented:
"I am pleased with the results of the actions we have taken to improve the performance of the business in both divisions. I am also pleased to report that we appointed a new CEO, Richard Petti, in December 2016. With Richard's arrival, our priorities are to drive sales growth whilst maintaining a disciplined approach to cost and cash."
Richard Petti, CEO, said:
"Ubisense starts 2017 with a strong order book and good momentum. It's a very exciting time to join the company and I'm looking forward to working closely with the team to achieve further success in the coming years".
For further information contact:
Ubisense Group plc +44 (0)1223 535170
Peter Harverson
Richard Petti
Tim Gingell
Numis Securities Limited +44 (0)20 7260 1000
Simon Willis
Jamie Lillywhite
Toby Adcock
Redleaf Communications +44 (0)20 7382 4730
Rebecca Sanders-Hewett
David Ison
About Ubisense
Ubisense (AIM: UBI), a global leader in Enterprise Location Intelligence solutions, helps manufacturing, communications and utility companies improve operational efficiency and boost profitability. Ubisense location intelligence systems bring clarity to complexity, enabling customers to revolutionise their operational effectiveness in a measurable way. Founded in 2002, Ubisense is headquartered in Cambridge, England, with offices in North America, France, Germany and Japan. For more information visit: www.ubisense.net.