Jaywing PLC Trading Statement (4750D)
April 27 2017 - 1:01AM
UK Regulatory
TIDMJWNG
RNS Number : 4750D
Jaywing PLC
27 April 2017
Date: Thursday 27(th) April 2017
On behalf of: Jaywing plc ("the Company")
Jaywing plc
("Jaywing" or "the Company")
Year-end trading statement
Trading Update
Jaywing plc, the data science led agency, is pleased to provide
a pre-close trading update ahead of its results for the year ended
31st March 2017. The Board can report that it expects the results
to be in line with market expectations and with a better than
expected net debt position of GBP3.5m, despite having completed two
acquisitions in the period.
Cash generation and free cash flow have both remained strong as
a consequence of the high level of resilience in the Company's
income streams. The level of recurring income has continued to grow
with almost 60% of total income now being billed on a monthly basis
under 12 to 18 month contracts.
"The company continues to maintain its strategy of putting data
science at the heart of its business and is increasingly providing
a fully integrated range of services to its clients with this at
its core. It is pleasing to see the growing quality of the
company's income and the strength of its cash flow." said Chairman
Ian Robinson.
Board Changes
Stephen Davidson is retiring from the Board and will be replaced
by Philip Hanson. Philip will become an independent non-executive
director and chair of the Remuneration Committee, taking over from
Ian Robinson who will become chair of Audit Committee.
The Board would like to thank Stephen for his 11 years of
service and wish him well with his busy and successful
non-executive life.
Philip has extensive experience in marketing and e-commerce both
in the UK and internationally, having held a number of senior roles
in the FMCG and retail financial services sectors - latterly as
Global Marketing & e-commerce Director for Travelex.
AIM Rules Disclosures
Philip David Hanson (60) is also non-executive Director of the
Bettys & Taylors Group. He is a Director of the French and
Australian entities of the Goelet family wine business (SCEA
Domaine de Nizas and Red Earth Nominees Pty Ltd respectively). He
was a Director of Travelex Card Services Ltd until December
2015.
There are no further disclosures required under the AIM Rules
for Companies.
Jaywing will release full preliminary results on Wednesday 5(th)
July 2017.
Enquiries:
Jaywing plc (www.jaywingplc.com)
Michael Sprot (Company Secretary) Tel: 0114 281 1200
Cenkos Securities plc
Nicholas Wells/Ivonne Cantú (Nomad) Tel: 0207 397 8920
This information is provided by RNS
The company news service from the London Stock Exchange
END
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