Cambridge Cognition Holdings PLC Trading Update and Notice of Results (4114B)

TIDMCOG

RNS Number : 4114B

Cambridge Cognition Holdings PLC

10 January 2018

Cambridge Cognition Holdings Plc

('Cambridge Cognition' or the 'Company')

Trading update and notice of results

Cambridge Cognition Holdings plc, (AIM: COG), the specialist developer of computerised tests for detection and monitoring of neuropsychological disorders, announces a trading update for the year ending 31 December 2017.

The number of Pharmaceutical Clinical Trials and Academic Research contracts secured in the year, now combined in a single product group, has increased by 18% when compared to the prior year. This reflects the sales strategy implemented at the start of the year to focus on securing smaller earlier staged studies to build a strong pipeline of sales opportunities for future years. The Company continues to grow its Services revenue as outlined in the interim results to improve the overall revenue mix.

The Company had expected to sign two large contracts with a combined value of approximately GBP2.3m in the last quarter of the year, and whilst the contracts are at an advanced stage, they are now expected to commence in the first half of 2018. Consequently, revenue for the full year to 31 December 2017 is expected to be marginally below the GBP6.9m reported in 2016 with the sales order pipeline value as at 1 January 2018 up 56% on the prior year. The Company now expects to be broadly break even for the year at the EBITDA line (before share based payment charges).

Cash balances at year end are expected to be approximately GBP1.9m (2016: GBP2.4m), which provides sufficient financial resources to implement the next phase of the Company's strategic plan.

The preliminary results for the year ended 31 December 2017 will be released on 22(nd) March 2018.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

Enquiries

 
 Cambridge Cognition Holdings PLC 
 Steven Powell, Chief Executive         Tel: [phone] 
  Officer                                700 
  Nick Walters, Chief Financial          [e-mail] 
  Officer 
 
 finnCap Ltd (NOMAD and Joint Broker)   Tel: [phone] 
                                         0500 
 Geoff Nash / Simon Hicks               (Corporate Finance) 
 Alice Lane                             (Corporate Broking) 
 Dowgate Capital Stockbrokers Limited   Tel: [phone] 
  (Joint Broker)                         7715 
  David Poutney/ James Serjeant          (Corporate Broking) 
 
 IFC Advisory Limited (Financial        Tel: [phone] 
  PR and IR)                             8671 
 Tim Metcalfe/ Graham Herring 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

TSTDKLFBVFFBBBD

(END) Dow Jones Newswires

January 10, 2018 02:00 ET (07:00 GMT)