SDL has released a positive trading update indicating that it expects full year revenues in the range £323m-£325m and adjusted EBITA of no less than £28.5m, in line with expectations. Year-end net cash of £14.4m was much better than expected. We have updated our FY 2018 estimates to reflect the indications in the update, but left our FY 2019 and FY 2020 revenue and earnings forecasts unchanged pending additional guidance on trading momentum and cost synergies when results are released on 20 Marc ....
