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18 Feb 2014 07:00
18 February 2014
Kalibrate Technologies plc
("Kalibrate" or the "Group")
Trading update
Kalibrate Technologies plc (AIM: KLBT), a provider of proprietary software-based products and services to the global petroleum retail industry, today provides the following positive update on trading ahead of its half year results announcement for the period ended 31 December 2013, which will be announced on 11 March 2014.
Since its Admission to AIM on 29 November 2013, Kalibrate has continued to make strong progress, delivering growth in both its petroleum retail pricing and petroleum retail planning solutions. For the six months ended 31 December 2013, the Group expects to report revenues of not less than £8.8m (H1 2012: £7.5m) and EBITDA of not less than £1.2m (H1 2012: £0.8m).
As announced on 20 December 2013, the Group has signed a key multi-year full managed services contractual commitment with a global oil company, which is expected to generate an additional £1.2 million in annual recurring revenue for the Group over the multi-year term from July 2014.
The Group's full year earnings are expected to be in line with management expectations.
Commenting on the announcement, Bob Stein, Chief Executive Officer of Kalibrate said:
"We have had a solid start to life on AIM and have already delivered on some of the objectives we set out when Kalibrate joined the market. The Group has traded well in the first half of the year with revenue increasing over 18% and EBITDA increasing over 50% on the comparative period last year. Kalibrate's pipeline of prospects remains encouraging and the Board looks forward to the remainder of the year with confidence."
Kalibrate Technologies plc | via FTI Consulting, LLP |
Bob Stein, Chief Executive Officer | |
Brad Ormsby, Chief Financial Officer | |
N+1 Singer Advisory LLP | +44 (0) 20 7496 3000 |
Shaun Dobson / Ben Wright / Emily Watts | |
FTI Consulting, LLP | +44 (0) 20 7831 3113 |
Matt Dixon / Chris Lane / Emma Appleton |
About Kalibrate Technologies plc
Kalibrate is the only global provider of both pricing and retail planning solutions to petroleum retailers worldwide. Based on its proprietary software and underpinned by an extensive library of petroleum market data, Kalibrate's products enable clients to devise new market entry strategies, plan and optimally invest in existing petroleum retail networks, and generate optimal petroleum product prices on a real-time and fully automated basis.
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