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17 Apr 2014 07:00
SEPURA PLC
("the Company" or "the Group")
TRADING UPDATE
Sepura plc, a leading global provider of critical communications solutions, today issues the following trading update for the year ended 28 March 2014.
Highlights
· Revenues of approximately €116m for the period, an increase of 11% over the prior year
· Adjusted operating profit and adjusted EPS in line with market expectations
· Operating cash conversion of approximately 100% with closing net cash of €5.3m
Trading update
The Company expects to report revenues of approximately €116m, up 11% over the prior year and ahead of market expectations. Adjusted operating profit is expected to increase by approximately 19% over the prior year. This increase is despite material foreign exchange headwinds in the first half of the year and the incremental investments made by the Company in its DMR portfolio and North American sales organisation.
The Company expects to report adjusted EPS of 8.4 cents per share, in line with market expectations.
Operating cash conversion of approximately 100% with closing net cash of €5.3m after investing €5.0m in acquisitions, €1.3m on share repurchases and €3.0m of dividend payments.
The Company plans to issue its Preliminary Results Announcement for the period ended 28 March 2014 on 10 June 2014.
Ends
Further information:
Sepura Gordon Watling, Chief Executive Officer Steve Chamberlain, Chief Financial Officer Peter Connor, Investor Relations
| +44 (0) 1223 876000 |
Bell Pottinger (Financial PR) Olly Scott Charlie Goodwin
| +44 (0) 20 7861 3117 |
Liberum (Joint Corporate Broker) Steve Pearce
| +44 (0) 20 3100 2000 |
Investec (Joint Corporate Broker) Chris Sim
| +44 (0) 20 7597 5970 |
Oakley Capital (Financial Advisor) Christian Maher Victoria Boxall | +44 (0) 20 7766 6900 |
Cautionary Statement:
This trading statement contains certain forward-looking statements with respect to the operations, performance and financial condition of Sepura. By their nature, future events and circumstances can cause results and developments to differ from those anticipated. Nothing in this trading statement should be construed as a profit forecast. No undertaking is given to update the forward-looking statements whether as a result of new information, future events or otherwise.
Notes to Editors:
Sepura is a global leader in the design, manufacture and supply of digital radios, infrastructure and applications. We provide specialist solutions for the public safety, transportation, oil and gas, mining, utilities, industrial and other commercial sectors.
The Group offers one of the broadest ranges of TETRA products available and is often first to deliver innovative products and features to its markets. The recent acquisitions of specialist TETRA infrastructure systems supplier Sepura Systems and application developer Portalify have enhanced Sepura's capability to deliver powerful and easy-to-deploy systems.
Headquartered in Cambridge, England and employing over 300 staff, Sepura was admitted to the Official List of the London Stock Exchange on 3 August 2007.
www.sepura.com
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