SCISYS PLC Pre-Close Trading update and Notice of Results (5959C)
January 23 2018 - 1:00AM
UK Regulatory
TIDMSSY
RNS Number : 5959C
SCISYS PLC
23 January 2018
SCISYS PLC
("SCISYS", the "Group" or the "Company")
Pre-Close Trading update
And Notice of Results
SCISYS PLC (AIM: SSY), the supplier of bespoke software systems,
IT-based solutions and support services to the Media &
Broadcast, Space, Government, Defence and Commercial sectors, is
pleased to announce a trading update for the year ended 31 December
2017 prior to entering into its close period.
Trading
The Directors expect the Company's trading results will
comfortably meet current market guidance, both in respect of
revenues and adjusted operating profit.
The Company's overall order book is at record levels and strong
across all sectors, bolstered by our EUR18m contract win with OHB
System AG to deliver the ground-station control and communications
infrastructure for the German national satellite-communications
mission, Heinrich Hertz. The Directors are pleased to note that the
strong organic growth enjoyed at the end of 2017 is continuing into
2018. The Group's cash flow is particularly healthy, with the net
debt position as at 31 December 2017 better than expected, at
GBP5.9m.
The Group's integration with ANNOVA is progressing steadily. As
we enter our final ring-fencing year with ANNOVA, we see cross
selling and synergies between ANNOVA and our Media & Broadcast
(M&B) division continue to bear fruit, as evidenced by contract
wins with both MDR and RTL, respectively. MDR is a German public
broadcaster and has been a customer for M&B since 1994; RTL
France has been a long-standing customer with ANNOVA and is a large
commercial customer for M&B and their first in France.
We have started a programme to align ANNOVA's internal processes
with SCISYS' high standards. ANNOVA completed a key milestone for
its long-term supply contract with the BBC, for the supply of its
OpenMedia software as announced on 9 August 2017.
The Group has in place intra-group currency-hedging arrangements
to mitigate the risk of exchange-rate fluctuations and does not
anticipate any major impact from exchange-rate movements in 2018.
As previously announced, SCISYS continues to explore a range of
Brexit contingency plans and options to protect shareholder
value.
Commenting, Mike Love, Chairman of the Company, said:
"The positive news flow across the year on new business wins was
crowned by the announcement in late October of the the award of the
contract to deliver the ground station control and communications
infrastructure for Heinrich Hertz directly to OHB System AG, for
the first time as prime contractor for the entire ground
infrastructure. Further contract wins across the Group in the last
quarter of 2017 mean that we are entering 2018 with positive
momentum across all divisions."
Notice of Results
SCISYS expects to report its preliminary results for the year
ended 31 December 2017 on 27 March 2018.
Investor Lunch Programme
SCISYS will be holding investor lunches in London and Bristol
for Private Client Investment Managers and Private Investors. Those
wishing to attend should contact Tom Cooper on
tom.cooper@walbrookpr.com, 020 7933 8780 or 0797 122 1972 for
further details.
For further information please contact:
+44 (0)1249 466
SCISYS PLC 466
------------------------------------------ --------------------------
Mike Love Chairman
--------------------- ------------------- --------------------------
Klaus Heidrich Chief Executive
Officer
--------------------- ------------------- --------------------------
Chris Cheetham Finance Director
--------------------- ------------------- --------------------------
finnCap (NOMAD
& Broker) +44 (0)20 7220 0500
------------------------------------------ --------------------------
Julian Blunt Corporate Finance
--------------------- ------------------- --------------------------
Walbrook PR +44 (0)20 7933 8780
------------------------------------------ --------------------------
Tom Cooper/Paul
Vann +44 (0)797 122 1972
------------------------------------------ --------------------------
tom.cooper@walbrookpr.com
----------------------------------------- --------------------------
About SCISYS:
Employing around 500 staff, SCISYS group is a leading developer
of Information and Communications Technology services, e-Business,
web and mobile applications, editorial newsroom and advanced
technology solutions. The Company operates in a broad spectrum of
market sectors including Media & Broadcast, Space, Government
and Defence and Commercial sectors. SCISYS clients are
predominantly blue chip and public sector organisations. Customers
include the Environment Agency, the Ministry of Defence, Airbus
Defence & Space, Arqiva, Vodafone, the European Space Agency,
Eumetsat, the BBC, RNLI, Interflora and the National Trust. The
Company has UK offices in Chippenham, Bristol, Leicester and
Reading and German offices located in Bochum, Dortmund, Darmstadt
and Munich. More information is available at www.scisys.co.uk.
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTDDGDBIXDBGID
(END) Dow Jones Newswires
January 23, 2018 02:00 ET (07:00 GMT)
Scisys (LSE:SSY)
Historical Stock Chart
From Apr 2024 to May 2024
Scisys (LSE:SSY)
Historical Stock Chart
From May 2023 to May 2024