Last checked at 20 Jan 2011 07:00
20 January 2011
1Spatial Holdings plc
("1Spatial" or "the Company")
Pre-close trading update
The Company is pleased to announce that, now the dust has settled after our reverse takeover of IQ Holdings in October 2010 and subsequent listing on the AIM market, revenue for the period is ahead of management's expectations and 1Spatial remains firmly on track in the run up to year end.
Over the last three months the Company has secured a number of contracts in the National Mapping Agency arena and public sector. 1Spatial remains confident of its ability to exploit its market leading technology that drives the improvement of business critical location data.
The Government's Spending Review resulted in a delay in the awarding of contracts for many businesses, including 1Spatial. However, as normal business resumes, the pipeline is looking strong.
The award of the recent ground-breaking Framework Agreement between Ordnance Survey and 1Spatial is a testament to the Company's software and services offering and strategic approach. 1Spatial's technology fully supports Ordnance Survey's demanding requirements for the delivery of their world renowned products over the next decade.
The geospatial market is worth $2.65 billion and grew at 38.4% between 2006 and 2010. With market consolidation, technological changes, the drive for greater business efficiency and improved decision making, opportunities are emerging that will drive 1Spatials organic growth. 1Spatial is also exploring a number of routes to market for its proven technology through strategic acquisition and partnership.
The Company will announce its interim results on 22nd March 2011.
For further information please contact:
1Spatial Holdings plc
Nadene Sayer +44 (0)1223 420 414
Libertas Capital Corporate Finance Limited
Sandy Jamieson +44 (0)20 7569 9650
Rivington Street Corporate Finance
Jon Levinson +44 (0)20 7562 3389
Bishopsgate Communications
Duncan McCormick/Natalie Quinn +44 (0)20 7562 3350
About 1Spatial
1Spatial is an industry leader in the provision of intelligent data quality and integration solutions for organisations worldwide that need to trust their location-based information. For more than 40 years, 1Spatial has been providing solutions and services to public and private sector organisations who handle high-volumes of business critical data. By automating the transformation of complex and distributed data into accurate and valuable information, organisations can improve operational efficiently, reduce costs, manage compliance and improve decision making. These solutions are delivered through its own sales and services team with headquarters in Cambridge, UK. For more information, visit www.1spatial.com