Dods Group PLC Trading Update
RNS Number : 8709T
Dods Group PLC
30 March 2021
30 March 2021
Dods Group plc
("Dods", the "Company" or "the Group")
Dods Group plc (AIM: DODS), the data and intelligence business,
provides the following update on trading in the year just ending on
31 March 2021.
Trading in the second half of the year has recovered strongly
after the first half was impacted by the advent of the Covid
Dods Technology's achieved double digit net income growth in the
second half when compared to the first - with increased spend from
existing clients, new project wins and a rebound in some tactical
revenues which had been impacted by Covid19, in the earlier part of
the year. The business benefits from strong levels of recurring
revenue from long term contracts.
Dods Intelligence, which was heavily impacted by the inability
to hold physical events and training in the first half, has
recovered by moving much of its operation online, net income in
this division has grown very strongly half on half.
The Group expects to report an adjusted EBITDA** for the full
year of at least GBP1.8 million compared with an adjusted EBITDA
loss of GBP0.2 million in the first half.
*Net income is revenue less the cost of sales directly related
to provision of services to customers.
**Adjusted EBITDA is calculated as earnings before tax,
depreciation, amortisation of intangible assets, share based
payments and non-recurring items.
The Group has come through a difficult 2020 with a robust
balance sheet, year-end net cash will be no less than GBP0.4
million; (31 March 2020 GBP1.4 million). The Group expects to have
approximately GBP5.0 million of cash available including its fully
drawn debt facility of GBP4.6 million.
The Group benefited during the period from deferred liabilities
of GBP1.7 million, of which deferred VAT is the most significant
element. This position is expected to unwind during the course of
the coming financial year. There are no other temporary Covid19
relief measures that are impacting the company's balance sheet. Due
to the positive cash flow of the Group, the Board has already
resumed debt repayments.
Mark Smith, Non-Executive Chairman, commented:
"We have seen a strong recovery in the second half of the
financial year which is a testament to the hard work and
adaptability of our people, the loyalty of our clients and the
strength of our offer. We look forward to providing further detail
in our full preliminary results statement in July."
This announcement is released by Dods Group plc and contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) 596/2014 ("MAR"), and is disclosed in
accordance with the Group's obligations under Article 17 of
For the purposes of MAR and Article 2 of Commission Implementing
Regulation (EU) 2016/1055, this announcement is being made on
behalf of the Group by Simon Bullock, Chief Financial Officer.
For further information, please contact:
Dods Group plc
Mark Smith - Non-Executive Chairman 020 7593 5500
Canaccord Genuity Limited (Nomad and Broker)
Bobbie Hilliam 020 7523 8150
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(END) Dow Jones Newswires
March 30, 2021 02:00 ET (06:00 GMT)