Jaywing PLC Trading Statement (4750D)

TIDMJWNG

RNS Number : 4750D

Jaywing PLC

27 April 2017

   Date:                     Thursday 27(th) April 2017 
   On behalf of:     Jaywing plc ("the Company") 

Jaywing plc

("Jaywing" or "the Company")

Year-end trading statement

Trading Update

Jaywing plc, the data science led agency, is pleased to provide a pre-close trading update ahead of its results for the year ended 31st March 2017. The Board can report that it expects the results to be in line with market expectations and with a better than expected net debt position of GBP3.5m, despite having completed two acquisitions in the period.

Cash generation and free cash flow have both remained strong as a consequence of the high level of resilience in the Company's income streams. The level of recurring income has continued to grow with almost 60% of total income now being billed on a monthly basis under 12 to 18 month contracts.

"The company continues to maintain its strategy of putting data science at the heart of its business and is increasingly providing a fully integrated range of services to its clients with this at its core. It is pleasing to see the growing quality of the company's income and the strength of its cash flow." said Chairman Ian Robinson.

Board Changes

Stephen Davidson is retiring from the Board and will be replaced by Philip Hanson. Philip will become an independent non-executive director and chair of the Remuneration Committee, taking over from Ian Robinson who will become chair of Audit Committee.

The Board would like to thank Stephen for his 11 years of service and wish him well with his busy and successful non-executive life.

Philip has extensive experience in marketing and e-commerce both in the UK and internationally, having held a number of senior roles in the FMCG and retail financial services sectors - latterly as Global Marketing & e-commerce Director for Travelex.

AIM Rules Disclosures

Philip David Hanson (60) is also non-executive Director of the Bettys & Taylors Group. He is a Director of the French and Australian entities of the Goelet family wine business (SCEA Domaine de Nizas and Red Earth Nominees Pty Ltd respectively). He was a Director of Travelex Card Services Ltd until December 2015.

There are no further disclosures required under the AIM Rules for Companies.

Jaywing will release full preliminary results on Wednesday 5(th) July 2017.

Enquiries:

Jaywing plc (www.jaywingplc.com)

   Michael Sprot (Company Secretary)                        Tel: [phone] 

Cenkos Securities plc

   Nicholas Wells/Ivonne Cantú (Nomad)                  Tel: [phone] 

This information is provided by RNS

The company news service from the London Stock Exchange

END

TSTPGUQUCUPMGBQ

(END) Dow Jones Newswires

April 27, 2017 02:01 ET (06:01 GMT)