Last checked at 1 Aug 2017 07:00
1 August 2017
Ubisense Group plc (the "Company")
Trading Update
Ubisense Group plc ("Ubisense" or the "Company") (LON:UBI), a market leader in enterprise location intelligence solutions, announces an update on current trading following the close of the Company's first half ended 30 June 2017.
Financial performance in the first half is expected to deliver revenue in excess of £12 million (2016: £10.6 million) and the order backlog remained at a similar level to the prior year. Cash balances in the company were £6.4 million (2016: £5.0 million) and net funds £3.2 million (2016: £1.0 million net funds). This performance was primarily driven by growth in the Company's Real-Time Location System division ("RTLS") division.
Within the RTLS division, deployments with German automotive customers have driven first half revenues, noteworthy orders in the period included a new Turkish car plant and a European automotive customer. Since 30 June 2017, the Company has secured an order in excess of £1 million with a new North American aerospace and defence customer for a strategic productivity enhancing solution, with revenue to be recognised in the second half of 2017.
For the Geospatial division, key North American orders include extensions of existing myWorld deployments with two customers and the first sale of the newly released product, myWorld Fibre Planning, to be recognised in the second half of 2017. These deals help to offset the ongoing decline in legacy GE Smallworld related geospatial services revenues.
The Company continues to trade in line with Board expectations.
Effective today, the Company is pleased to confirm that Peter Harverson will resume the position of non-Executive Chairman on 1st August 2017 in line with previous communications.
Richard Petti CEO said "Whilst we are still in the early stages of our new software oriented strategy I am encouraged with how our customers have responded to our new approach, and this has delivered improved results on the same period in 2016."
The Company expects to announce its results for the 6 months ending 30 June 2017 in September 2017.
For further information contact:
Ubisense Group plc +44 (0) 1223 535170
Richard Petti
Tim Gingell
Numis Securities Limited +44 (0) 20 7260 1000
Simon Willis
Jamie Lillywhite
Toby Adcock
Redleaf Communications +44 (0) 20 7385 4730
David Ison
Sam Modlin
About Ubisense
Ubisense (AIM: UBI), is a global leader in Enterprise Location Intelligence Solutions, proven to drive quality, reduce costs, manage complexity and increase productivity for its customers across the world. Central to its offering are two powerful IIoT software platforms that can take data from any source to provide visibility of customers' operations. Offering in-depth knowledge of the sectors in which it operates across the world, Ubisense has long standing relationships with many customers across target markets including automotive, aerospace, logistics, communications and utilities. Founded in 2002, Ubisense is headquartered in Cambridge, England, with operations in North America, Germany, France and Japan. www.ubisense.net