12 Oct 2011 07:00
12 October 2011
Nasstar plc
("Nasstar" or the "Company")
Pre-close trading statement & Notice of Results
Nasstar, which provides Hosted Desktop cloud computing, is pleased to provide a pre-close trading statement ahead of the announcement of its full year results for the year to 30 September 2011.
Hosted Desktop subscriptions have risen by 25% during the year to over 2,000 live users and as a result trading during the period has been in line with market expectations, with Earnings Before Interest, Tax, Depreciation, Amortisation and Share Based Payments expected to be in the region of £300,000.
During the period the Company signed up one of the UK's largest Microsoft Hosted Exchange providers to white label Nasstar's Hosted Desktop. To date they have achieved sales to eight companies, with a total of over 200 subscribers expected to be migrated to the platform between now and December 2011. These contracts include a 70-user 3-year contract and an 80-user 3-year contract.
The benefit of the most recently signed new contracts will fall into the new financial year, improving earnings visibility. The current sales pipeline gives the Directors confidence that the new financial period will see continued growth of the Hosted Desktop service.
During the period Nasstar strengthened its balance sheet through an institutional placing which raised £1.2 million, ensuring that the Company is well positioned to capitalise on opportunities arising in the cloud computing space.
Charles Black, CEO of Nasstar, said
"We have made good progress during the year and we look forward to a year of further financial improvement."
Notice of resultsNasstar expects to report its preliminary results for the year ended 30 September 2011 on Thursday 15 December 2011.
Nasstar plc | |
Charles Black, Chief Executive Officer | 020 7148 5000 |
Allenby Capital Limited, Nominated Adviser and Broker | |
Nick Naylor James Reeve | 020 3328 5656 |
About Nasstar plc
Nasstar (www.nasstar.com) provides Hosted Desktop, a cloud computing service that enables subscribers to access their desktop, applications and data in the cloud rather than using local hard drives. Hosted Desktop is a highly scalable service that provides benefits including anywhere access to computing, a standardised corporate desktop solution that can be accessed globally and in multiple languages and cost savings when compared to the traditional IT ownership model, replacing capital expenditure with a simple usage based payment model.
Nasstar was founded in 1998 by Charles Black. Nasstar plc was admitted to trading on the London Stock Exchange Alternative Investment Market in December 2005 (AIM: NASA).