Ingenta PLC Trading Update (6135Z)

TIDMING

RNS Number : 6135Z

Ingenta PLC

26 January 2022

26 January 2022

Ingenta plc

("Ingenta" or the "Group")

Trading Update

Ingenta plc (AIM: ING), a leading software and services provider to the publishing and media industries, is pleased to provide the following trading update for the year ended 31 December 2021.

The Group expects to report revenue of approximately GBP10.1m (2020: GBP10.1m) and adjusted EBITDA of approximately GBP1.5m (2020: GBP1.2m), slightly ahead of market expectations. Closing year end cash balances were GBP3.0m (2020: GBP2.3m) helped by strong cash collection at the year end. Ingenta has no debt.

In line with the previously stated intention to implement a progressive dividend policy, the Board intends to pay a final dividend of 2 pence per ordinary share for the 2021 financial year, subject to shareholder approval at the 2022 AGM.

The Group expects to announce its final results for the year ended 31 December 2021 in April 2022.

Scott Winner, Chief Executive Officer, commented :

"The 2021 headline figures announced today are encouraging, demonstrating the strong efficiency gains we are driving through the business, producing higher margins and improved cashflow.

Strategically, we continue to focus on our Intellectual Property management solutions and web-based content platforms which we anticipate will deliver revenue growth. In that respect, I'm pleased to report we have signed and deployed our first music customer onto our conChord product in 2021. This is an exciting development for the Group and validates that our expertise in IP management is applicable in verticals outside of the traditional publishing sector.

Elsewhere, in our web-based digital content distribution business, we delivered 3 successful go lives on our Edify platform. These implementations included 2 more prestigious NGO customers and we look to further enhance our business in this sector."

For further information contact:

 
  Ingenta Plc 
   Scott Winner, Jon Sheffield   [phone] 
  Cenkos Securities plc 
   Nicholas Wells, Katy Birkin   [phone] 
 

Certain of the information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the UK version of the EU Market Abuse Regulation (2014/596) which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended and supplemented from time to time.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

TSTDELFLLFLBBBQ

(END) Dow Jones Newswires

January 26, 2022 02:00 ET (07:00 GMT)