Promethean World Plc Trading Update (2738A)

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RNS Number : 2738A

Promethean World Plc

19 December 2014

19 December 2014

Promethean World Plc

("Promethean" or "the Group")

Trading update

Promethean World Plc (LSE: PRW), a world leader in the global market for interactive learning technology, today provides the following trading update.

In its last Interim Management Statement, on 6th November 2014, Promethean noted that, whilst seeing a stronger order pipeline building for the International region and also expecting to trade well in North America in the fourth quarter, there was an inherent risk on timing of orders around the year end.

It is now evident that certain larger contracts, that have been under negotiation for a period of time and that were originally anticipated to ship in the fourth quarter of 2014, are now expected to ship in the first quarter of 2015.

We therefore anticipate that revenue for the year will be below expectations at approximately GBP118m - GBP120m, with a consequential impact on Adjusted EBITDA. There will also be a short-term impact on year-end cash, due to the volume of orders received late in the period increasing working capital. The cash position is expected to normalise during the first quarter of 2015.

Enquiries

Promethean World Plc [phone]

Jim Marshall, Chief Executive Officer

Ian Baxter, Chief Financial Officer

    Citigate Dewe Rogerson Consultancy                                         + 44 (0) 20 7638 9571 

Anthony Carlisle + 44 (0) 7973 611888

This information is provided by RNS

The company news service from the London Stock Exchange

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