AIM-listed firm says it will exceed market expectations for EBITDA and cash in FY results
Companies: Ingenta plc
AIM-listed tech company Ingenta plc says it expects to exceed market expectations for EBITDA and cash when it announces its full-year results in March.
The Group says its financial performance continued to recover in H1 with progress in revenues, margins, costs, and cash flow. As a result, it now expects to exceed market expectations for the full-year:
"...the Board is confident that the business will exceed market expectations for EBITDA and cash for the full year, with a year-end net cash balance of approximately £2 million."
Ingenta management said the company would pay the first dividend in its history, at 1p per share.
CEO David Montgomery said the actions the company had taken had delivered a "substantially improved" financial performance:
"Following several years of product investment, we achieved a significant increase in new business wins in 2016. We also made a number of new senior hires which we expect will positively impact the business going forward.
In addition to underpinning the results for 2016, these new wins and the existing high level of recurring revenues provide a solid base for continued progress in 2017 and beyond. Our priorities are to drive sales growth whilst maintaining a disciplined approach to costs and cash."
Ingenta shares jumped 11% as the market opened on Monday and the stock is now up 33% in the past year.
