1 Aug 2022 07:00
1 August 2022
Ingenta plc
(the "Company")
Trading Update
Ingenta plc (AIM: ING), a leading provider of software and services to the global publishing industry, is pleased to confirm that trading in the six-month period to 30 June 2022 has shown a return to revenue growth. As a result of the difficult decisions taken by management over the last few years in reducing the Group's cost base, and the hard work of our employees, the benefits of this growth have produced a substantial increase in margins and resultant profitability. Performance in the first half has been driven by a continued expansion of the Group's Managed Services offering.
The Group expects to report revenue of approximately £5.3m (2021: £5.1m) and adjusted EBITDA of approximately £1.25m (2021: £0.75m) for the six month period to 30 June 2022. Closing cash balances as at 30 June 2022 were £4.4m (2021: £3.1m) helped by strong cash collection.
The Board is confident that the outlook for the year remains positive and that the Company will report results for the year ended 31 December 2022, comfortably in line with market expectations.
The Company's interim results are expected to be announced in September 2022.
For further information please contact:
Ingenta plc Tel: 01865 397 800
Scott Winner / Jon Sheffield
Cenkos Securities plc Tel: 0207 397 8900
Nicholas Wells / Katy Birkin
Certain of the information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the UK version of the EU Market Abuse Regulation (2014/596) which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended and supplemented from time to time.
Ingenta (ING)