Prelims are in line with the April trading update: revenue of £9.2m (+11% vs FY17) and EBITDA loss of £3.9m (-£4.0m in FY17); net debt of £2.4m including £2.3m of gross cash and £4.7m 8% December 2021 convertible loan notes. Given the unpredictable nature of large licence win timing, measures to improve the cost base should substantially reduce losses in FY19 based on an unchallenging revenue target, with nearly 50% covered by recurring maintenance revenue.
07 Jun 2018
Intercede - Prelims to March 2018
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Intercede - Prelims to March 2018
Intercede Group plc (IGP:LON) | 110 0 0.0% | Mkt Cap: 64.1m
- Published:
07 Jun 2018 -
Author:
Andrew Darley | Cavendish Research -
Pages:
3
Prelims are in line with the April trading update: revenue of £9.2m (+11% vs FY17) and EBITDA loss of £3.9m (-£4.0m in FY17); net debt of £2.4m including £2.3m of gross cash and £4.7m 8% December 2021 convertible loan notes. Given the unpredictable nature of large licence win timing, measures to improve the cost base should substantially reduce losses in FY19 based on an unchallenging revenue target, with nearly 50% covered by recurring maintenance revenue.