Ideagen PLC Trading Update (7184V)
November 07 2017 - 1:00AM
UK Regulatory
TIDMIDEA
RNS Number : 7184V
Ideagen PLC
07 November 2017
This announcement contains inside information.
Ideagen PLC
("Ideagen," "the Company" or the "Group")
Trading Update
Ideagen PLC (AIM: IDEA), a leading supplier of Information
Management Software to highly regulated industries, today provides
an update on trading for the six months ended 31 October 2017.
The Board is pleased to report that trading has remained strong
in the first half of the financial year and expects to report
revenue and adjusted EBITDA* significantly ahead of the same period
last year with an underlying organic revenue growth of
approximately 12%. The Company continues to trade in line with
market expectations for the full year to 30 April 2018.
Cash generation in the period was strong and the Company
maintains a robust balance sheet with no debt. The cash balance at
the period end was GBP5.9 million (30 April 2017: GBP4.8
million).
David Hornsby, Chief Executive Officer of Ideagen, commented: "I
am pleased to report yet another strong start to Ideagen's
financial year. Our core markets are strong and underpin the demand
we have seen this half. Cash generation has been excellent and the
Group has seen further growth in its recurring revenues and repeat
business.
The market opportunity remains large and long term and given the
Group's position as a leader in the Governance, Risk and Compliance
market, the Board is optimistic about the Group's continued growth
prospects."
*Earnings before interest, tax, depreciation, amortisation,
share based payments, acquisition costs and other exceptional
items.
Enquiries:
Ideagen plc 01629 699100
David Hornsby, Chief Executive
Graeme Spenceley, Finance Director
finnCap Limited 020 7220 0500
Stuart Andrews/Henrik Persson/James
Thompson (Nomad)
Stephen Norcross (Corporate Broking)
About Ideagen plc
Ideagen is a UK company quoted on the London Stock Exchange AIM
market (Ticker: IDEA.L).
Ideagen is a supplier of Information Management software with
operations in the UK, the United States and the Middle East. The
Company specialises in GRC (Governance, Risk and Compliance) and
Content and Clinical solutions with a primary focus on
organisations operating within highly regulated industries. With an
excellent portfolio of software products, Ideagen is able to
provide complete information lifecycle solutions that enable
organisations to reduce risk, meet their regulatory and compliance
standards, helping them to reduce costs and improve efficiency.
The Group has a customer base of over 3,000 organisations using
the Ideagen suite of products, including many blue chip names such
as BAE Systems, Emirates, Shell and the European Central Bank as
well as 150 hospitals in the UK and US.
For further information please visit www.ideagen.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTKQLFBDFFBFBD
(END) Dow Jones Newswires
November 07, 2017 02:00 ET (07:00 GMT)
Ideagen (LSE:IDEA)
Historical Stock Chart
From Apr 2024 to May 2024
Ideagen (LSE:IDEA)
Historical Stock Chart
From May 2023 to May 2024