RNS Number : 8709T

Dods Group PLC

30 March 2021

30 March 2021

Dods Group plc

("Dods", the "Company" or "the Group")

Trading update

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 pandemic.

Net Income*

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 MAR.

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

Georgina McCooke

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(END) Dow Jones Newswires

March 30, 2021 02:00 ET (06:00 GMT)