Ideagen PLC Pre-Close Trading Update (1134N)
May 14 2015 - 1:00AM
UK Regulatory
TIDMIDEA
RNS Number : 1134N
Ideagen PLC
14 May 2015
Ideagen plc
("Ideagen" or the "Group")
Pre-Close Trading Update
Ideagen PLC (AIM: IDEA), a leading supplier of Information
Management software to highly regulated industries, announces a
trading update for the year ended 30 April 2015.
Trading for the year to 30 April 2015 was robust and in line
with expectations with both continued organic growth and
contributions from EIBS and Gael. The results will therefore show
the Group's sixth consecutive year of revenue and EBITDA* growth,
with revenue expected to be up 59 per cent. to approximately
GBP14.3 million and adjusted EBITDA expected to be up by 42 per
cent. to approximately GBP4 million. This will lead to a
significant increase in adjusted EPS** which continues to be an
important financial metric for the Group and has averaged growth of
24 per cent. per annum since 2012.
Cash at 30 April was GBP5.25m and with no debt our strong
balance sheet provides the Group with the capacity to pursue
further strategic opportunities in the current financial year.
*Earnings before interest, tax, depreciation, amortisation,
share based payments, acquisition costs and exceptional items.
** Adjusted fully diluted earnings per share,
Performance and Integration of Gael
The acquisition of Gael has transformed the Group and has made a
strong and positive contribution both financially and in terms of
product capability. Integration is well underway and a number of
existing Ideagen customers have upgraded their existing
installations to take advantage of the enhanced proposition that
the Group can now offer. Having successfully executed our immediate
objectives we can now accelerate the integration of Gael into the
Group. To enable this Ashley Marron, Chief Executive of Gael has
been appointed Group Chief Operating Officer with responsibility
for all of Ideagen's Product Strategy and Development and Customer
Services.
Outlook
The Group has significant contracted work in progress, a growing
recurring revenue base and a strong pipeline of new business. We
have experienced robust growth within our Commercial Markets such
as Manufacturing, Life Sciences, Aviation and Banking which, we
expect to continue. We are also seeing renewed momentum within a
number of sales opportunities at NHS Hospital Trusts, which had
slowed prior to the election. The Board is therefore confident that
the Group will continue to meet its growth objectives for this
financial year and beyond.
David Hornsby, Chief Executive, commented: "The Group has once
again met market expectations, demonstrating the strength of our
business model and products and the talent and dedication of our
employees. I am delighted with the contribution from our newly
acquired businesses, Gael and EIBS, and look forward to an exciting
year ahead
Enquiries:
Ideagen Plc Tel: 01629 699100
David Hornsby (Chief Executive)
Graeme Spenceley (Finance Director)
finnCap (Nominated Adviser Tel: 020 7220 0500
and Broker)
Stuart Andrews, James Thompson
(Corporate Finance)
Stephen Norcross (Corporate
Broking)
This information is provided by RNS
The company news service from the London Stock Exchange
END
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