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Trading Update

26 Jul 2013 07:00

RNS Number : 1983K
Sopheon PLC
26 July 2013
 



Embargoed Release: 07:00hrs Friday 26 July 2013

SOPHEON PLC

 

("Sopheon" or the "Company")

 

TRADING UPDATE

 

Sopheon plc, the internationalprovider of software and services that improve the financial return from innovation and product development investments, issues the following trading update for the six months to 30 June 2013.

 

In our Annual General Meeting announcement issued on 12 June, we noted that we had a substantial amount of business to close by the end of June. A good proportion has concluded successfully. Accordingly, revenue visibility is now £10.3 million, compared to just over £8 million at the time of the Annual General Meeting and £9.6 million a year ago. Thanks to these sales, we expect first half revenue to moderately exceed revenues for the corresponding period last year. As previously announced, we have continued a controlled expansion of staff levels in all parts of the business. These actions, coupled with the full-year effect of additional staff added during 2012, mean that our costs also exceed the previous year and accordingly the reported EBITDA result is expected to be moderately lower.

 

Further details of the results for the six months to 30 June 2013 will be provided in our interim financial report, scheduled for release on 22 August 2013. Expectations noted above are subject to completion of the period-end financial close and auditor review processes. Looking forward to the second half of the year, our sales pipeline remains strong. However, we would note that, as always in our industry, accurate prediction of the timing and value of sales events can be difficult.

 

Since our Annual General Meeting we have also completed the first phase of our corporate restructuring, to reduce the number of shares in issue by a factor of 20. This was successfully achieved through a two-step process involving a 10000:1 share consolidation followed by a 1:500 share subdivision one week later, in accordance with the circular issued to shareholders at the start of May. Overall, this has reduced the number of shares in issue from 145.6 million shares to 7.3 million shares. The nominal value of each share has changed from 5p to 20p. This procedure also reduced the number of shareholders on the Company's UK register from approximately 4000 to approximately 200. As previously explained these figures do not include shareholders in the Dutch system, which were anticipated to fall from over 7000 shareholders to under 2000 shareholders. Due to differences in the way that shares are held in the Netherlands, we have yet to establish the precise impact on Dutch holdings at this time but continue to make appropriate enquiries and will update the market as and when appropriate. We aim to complete the second phase of our restructuring, the elimination of the accumulated deficit on the profit and loss account, later this year, as planned.

For further information contact:

 

Barry Mence, Chairman

Sopheon plc

+ 44 (0) 1483 685 735

Arif Karimjee, CFO

Sopheon plc

+ 44 (0) 1483 685 735

Charlotte Stranner / Victoria Bates

finnCap

+ 44 (0) 20 7600 1658

Josh Royston / Heather Armstrong

Newgate Threadneedle

+ 44 (0) 20 7653 9850

Claire Verhagen

Citigate First Financial

+ 31 (0) 205 754 010

 

About Sopheon

Sopheon (LSE: SPE) partners with customers to provide complete Enterprise Innovation Performance solutions including software, expertise, and best-practices to achieve exceptional long-term revenue growth and profitability. Sopheon's Accolade® solution provides unique, fully-integrated coverage for the entire innovation management and new product development lifecycle. For the first time, businesses can access a single source of the truth across strategic innovation planning, roadmapping, idea and concept development, process and project management, and portfolio and in-market management. Sopheon's solutions have been implemented by over 200 customers with over 60,000 users in over 50 countries. Sopheon is listed on the AIM Market of the London Stock Exchange and on the Alternext Exchange in the Netherlands. For more information, please visit www.sopheon.com

Revenue visibility is defined in Note4 of Sopheon's 2012 annual report which is available from the investor section of www.sopheon.com .

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
TSTQELFLXDFZBBK
Date   Source Headline
10th Jun 20217:00 amRNSAGM Statement
3rd Jun 20211:50 pmRNSIssue of Equity
2nd Jun 20217:00 amRNSSopheon Deployed Globally at The 3M Company
14th May 202110:11 amRNSGrant of Options / PDMR dealing
14th Apr 20217:00 amRNSLaunch of Accolade for Smart Products
9th Apr 20214:15 pmRNSIssue of Equity
31st Mar 20217:00 amRNSDirectorate Change
29th Mar 20212:30 pmRNSDirector Shareholdings
24th Mar 20217:00 amRNSFinal Results
3rd Mar 202111:02 amRNSHolding(s) in Company
2nd Mar 202112:12 pmRNSHolding(s) in Company
26th Feb 20214:20 pmRNSResult of Secondary Placing
26th Feb 20211:36 pmRNSProposed Secondary Placing
8th Feb 20214:30 pmRNSHolding(s) in Company
28th Jan 20217:00 amRNSSopheon extend innovation leadership with Simplot
25th Jan 20217:00 amRNSTrading Update
5th Nov 20207:00 amRNSRelease of Accolade version 13.2
12th Oct 20207:00 amRNSSeasoned Cloud & Industry Executive added to Team
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28th Aug 202012:39 pmRNSIssue of Equity
27th Aug 20207:00 amRNSInterim Results
30th Jul 20207:00 amRNSMondelez Partnership
13th Jul 202011:41 amRNSGrant of Options/PDMR Dealing
11th Jun 202011:28 amRNSResult of AGM
9th Jun 202012:00 pmRNSIssue of Equity & Director/PDMR Shareholding
28th May 20207:29 amRNSProgressive publishes new research
28th May 20207:00 amRNSNew Sopheon Release Integrating Microsoft Teams
15th May 202010:01 amRNSIssue of Equity
15th May 20207:00 amRNSAGM Notice and Update
3rd Apr 202011:17 amRNSDirector Shareholdings
25th Mar 20201:38 pmRNSIssue of Equity
19th Mar 20204:46 pmRNSIssue of Equity
19th Mar 20207:00 amRNSFinal Results
28th Jan 20209:05 amRNSSecond Price Monitoring Extn
28th Jan 20209:00 amRNSPrice Monitoring Extension
28th Jan 20207:00 amRNSTrading Update
10th Jan 20201:00 pmRNSIssue of Equity
11th Dec 20197:00 amRNSTrading Update
10th Oct 201912:00 pmRNSIssue of Equity
1st Oct 201912:00 pmRNSIssue of Equity
20th Sep 20194:45 pmRNSIssue of Equity
22nd Aug 20192:06 pmRNSSecond Price Monitoring Extn
22nd Aug 20192:01 pmRNSPrice Monitoring Extension
22nd Aug 201911:05 amRNSSecond Price Monitoring Extn
22nd Aug 201911:00 amRNSPrice Monitoring Extension
22nd Aug 20199:05 amRNSSecond Price Monitoring Extn
22nd Aug 20199:00 amRNSPrice Monitoring Extension
22nd Aug 20197:00 amRNSHalf-year Report
12th Aug 201910:45 amRNSHolding(s) in Company

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