Last checked at 27 Apr 2017 07:00
Date: Thursday 27th April 2017
On behalf of: Jaywing plc ("the Company")
Jaywing plc
("Jaywing" or "the Company")
Year-end trading statement
Trading Update
Jaywing plc, the data science led agency, is pleased to provide a pre-close trading update ahead of its results for the year ended 31st March 2017. The Board can report that it expects the results to be in line with market expectations and with a better than expected net debt position of £3.5m, despite having completed two acquisitions in the period.
Cash generation and free cash flow have both remained strong as a consequence of the high level of resilience in the Company's income streams. The level of recurring income has continued to grow with almost 60% of total income now being billed on a monthly basis under 12 to 18 month contracts.
"The company continues to maintain its strategy of putting data science at the heart of its business and is increasingly providing a fully integrated range of services to its clients with this at its core. It is pleasing to see the growing quality of the company's income and the strength of its cash flow." said Chairman Ian Robinson.
Board Changes
Stephen Davidson is retiring from the Board and will be replaced by Philip Hanson. Philip will become an independent non-executive director and chair of the Remuneration Committee, taking over from Ian Robinson who will become chair of Audit Committee.
The Board would like to thank Stephen for his 11 years of service and wish him well with his busy and successful non-executive life.
Philip has extensive experience in marketing and e-commerce both in the UK and internationally, having held a number of senior roles in the FMCG and retail financial services sectors - latterly as Global Marketing & e-commerce Director for Travelex.
AIM Rules Disclosures
Philip David Hanson (60) is also non-executive Director of the Bettys & Taylors Group. He is a Director of the French and Australian entities of the Goelet family wine business (SCEA Domaine de Nizas and Red Earth Nominees Pty Ltd respectively). He was a Director of Travelex Card Services Ltd until December 2015.
There are no further disclosures required under the AIM Rules for Companies.
Jaywing will release full preliminary results on Wednesday 5th July 2017.
Enquiries:Jaywing plc (www.jaywingplc.com)Michael Sprot (Company Secretary) Tel: 0114 281 1200
Cenkos Securities plc
Nicholas Wells/Ivonne Cantú (Nomad) Tel: 0207 397 8920