Last checked at 30 Sep 2019 11:00
30 September 2019
The Panoply Holdings PLC
("The Panoply", or the "Group")
AGM Statement
At the Company's Annual General Meeting, being held today at 11am, Mark Smith, Chairman of The Panoply, will make the following statement:
"As highlighted at the time of our preliminary results, the Board is pleased with the progress made across the Group, delivering first year results ahead of our expectations at the time of the IPO. In a short space of time we have created a genuine disruptor to the large IT service providers, helped further by our largest acquisition to date, FutureGov.
As well as the performance of our established businesses, we have been particularly pleased with the progress made in our early stage investments, Greenshoot Labs and human+, both of which have gained market traction ahead of original expectations. Greenshoot Labs is the start-up acquired in February which provides digital solutions using Artificial Intelligence and Conversational Interfaces, whilst human+ was launched from within the Group, also in February, to provide robotic process automation services. Despite being early stage, I am pleased to report that they have both recently signed up several notable contract wins, with Greenshoot Labs working with The Defence Science and Technology Laboratory, Brunel University and a global telecoms client, and human+ working with the Food Standards Agency, University College London and NHS Wales.
These contracts underpin our confidence in these offerings and their growing importance in the digital transformation market. As such, we have been increasing investment in both of these areas to maximise the opportunity and believe that they can both deliver significant revenue streams in future periods. We therefore reiterate the statement made at the time of our annual report that we expect profitability in the year to be largely second half weighted.
We continue to be excited about The Panoply's growth prospects and look forward to providing further updates to shareholders."
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About The Panoply
The Panoply is a digitally native technology services company, built to service clients' digital transformation needs. Founded in 2016, with the aim of identifying and acquiring best-of-breed specialist information technology, design and innovation consulting businesses across Europe, the Group collaborates with its clients to deliver the technology outcomes they're looking for at the pace that they expect and demand.
More information is available at www.thepanoply.com