Rosslyn Data Technologies PLC AGM Statement (6928F)
October 30 2018 - 4:38AM
UK Regulatory
TIDMRDT
RNS Number : 6928F
Rosslyn Data Technologies PLC
30 October 2018
30 October 2018
Rosslyn Data Technologies plc
('Rosslyn', 'the Company' or 'the Group')
AGM Statement
The Chairman will deliver the following trading update to
investors at the Company's Annual General Meeting, which is due to
be held at 11.00 a.m. today:
"I am pleased to report to our Annual General Meeting that we
have made good progress since the beginning of this financial year.
The strategy, outlined to investors last year, is on track and we
are overall very satisfied with progress to date.
"Since the start of this financial year, management has been
focused on delivering the growth expectations for this year and
beyond, ensuring that the Group is in a position to achieve its
forecasts and targets for the year. To that end, we have been
concentrating our attention on opportunities to introduce
significant efficiencies into the company whilst delivering the
RAPid platform to a wide audience. This process is continuous, and
we will focus our efforts on growing our client base and expanding
our offerings to our current clients, whilst maintaining a
streamlined efficient operation. Our focus on revenue generation
within the high growth procurement and supply chain domain is
proving to be positive and we have secured two significant
contracts since the year end from global organisations.
"Management have been cognisant of the Company's cash position
and have significantly reduced cash burn, reducing the burn from
GBP1.3M in the first half of last year to less than GBP200K for the
current first half. As the second half of our fiscal year has a
significantly lower cash burn, this gives us confidence we will end
the year in a cashflow positive position.
"With regard to product development, our team of expert
developers continue to build technologies which disrupt the market.
Our RAPid Extract Studio, enabling fast and efficient automated
extraction from the major ERP systems and extraneous data sources,
brings together simplicity and speed whilst our dynamic data scheme
and data AI engine, delivers exceptional functionality and
flexibility to address our client's ever-changing data needs for
accurate insights. In addition, our automated processes (RPA) for
event driven analytics are at the leading-edge of the market and
enables our clients to efficiently achieve their financial,
operational and compliance objectives. We believe these
applications fully integrated into the RAPid platform and delivered
as business solutions, will continue to develop differentiation
between Rosslyn and our competitors, and help our clients create
sustainable value from their data and human capital assets.
"Recent wins have demonstrated the strength and benefits that
RAPid delivers to clients. The extremely low churn rate (below 5%)
demonstrates the reliability and stability of the Rosslyn Platform
and the role our account management teams have in the success of
our clients. Our continued investment into the platform and the
development of technologies within the data environment truly make
Rosslyn a company to watch.
Quickly providing an update on the integration of Integritie.
The amalgamation of the two companies has been as successful as we
could hope, with the expected synergies identified being realised
and in many cases, exceeded. The two platforms are now fully
unified with our solutions available to our clients.
"Lastly, before going to the vote on resolutions, I would like
to take this opportunity to thank all the employees of the Group,
who have contributed so much to the growth and development of
Rosslyn, and our shareholders for their continuing support."
Enquiries:
Rosslyn Data Technologies Roger Bullen, +44(0)20 7138 3203
plc Chief Executive Officer +44(0)77 7162 3345
Lance Mercereau
Chief Marketing Officer +44(0)7788 183273
Cenkos Securities
Nominated Adviser,
Broker Stephen Keys +44(0)20 7397 8924
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END
AGMUROKRWVARORA
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