Castleton Technology PLC Trading Update (5932B)

TIDMCTP

RNS Number : 5932B

Castleton Technology PLC

05 April 2017

5 April 2017

Castleton Technology plc

("Castleton", the "Group" or the "Company")

Trading Update

Castleton Technology plc (AIM: CTP), the software and managed services provider to the public and not-for-profit sectors, is pleased to provide the following update on trading for the year ended 31 March 2017 ahead of the announcement of its full year results.

The Company is pleased to announce that revenue and profitability for the year are in line with market expectations. Operating cash generation in the period was significantly better than market expectations, facilitating a continued reduction in the Company's net debt.

The Group expects to announce its preliminary results in late July 2017.

David Payne, Chairman of Castleton, commented:

"I am pleased with the substantial progress Castleton has made in the period having built a leading software and managed services provider in our sector. Meeting our financial targets whilst demonstrating the profitable and cash generative nature of our business is reassuring and we remain focussed on improving our customer proposition and cross-selling our portfolio of products and services. The Board remains confident about Castleton's future prospects."

Enquiries:

 
 Castleton Technology       Tel. +44 (0)845 
  plc                        241 0220 
  Dean Dickinson, Chief 
  Executive Officer 
  Haywood Chapman, Chief 
  Financial Officer 
 
 
   finnCap                    Tel. +44 (0)20 
   Jonny Franklin-Adams       7220 0500 
   / Simon Hicks 
 
   MXC Capital Markets        Tel. +44(0)20 
   LLP                        7965 1849 
   Marc Young / Charlotte 
   Stranner 
 
 
   Alma PR                    Tel. +44(0) 
   Josh Royston               7780 901979 
 

About Castleton Technology plc

Castleton Technology plc is a leading supplier of complementary software and managed services to the public and not-for-profit sectors. Castleton works in partnership with its customers and resellers to help drive efficiencies whilst improving controls and customer service. www.castletonplc.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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April 05, 2017 02:00 ET (06:00 GMT)