Sopheon PLC Trading Update (0831V)

TIDMSPE

RNS Number : 0831V

Sopheon PLC

19 July 2018

SOPHEON PLC

("Sopheon" or the "Company")

Trading Update

Sopheon plc, the international provider of software and services for complete Enterprise Innovation Management solutions, issues the following trading update for the six months to 30 June 2018.

In our Annual General Meeting announcement issued on 7 June, we noted that the positive momentum from 2017 had continued into the current year and that full year 2018 revenue visibility had risen to $23.5m compared to $17.5m the year before, an all time high. We are delighted to report that following a good close to June, revenue visibility now stands at $26.5m.

As we start the second half of the year, sales activity remains high and the board remains confident that the Company is trading comfortably in line with expectations.

With this progress, we expect revenue, EBITDA and profit before tax for the first half of 2018 to be significantly ahead of prior year performance for the corresponding period.

Net cash at 30 June 2018 stood at $15.5m, compared to $9.5m at 31 December 2017, and $6.6m at 30 June 2017.

Further details of the results for the six months to 30 June 2018 will be provided in our interim financial report, scheduled for release on 23 August 2018. Expectations noted above are subject to completion of the period-end financial close and auditor review processes.

For further information contact:

 
 Barry Mence, Chairman                                + 44 (0) 1276 
  Arif Karimjee, CFO                   Sopheon plc     919 560 
 Carl Holmes/Giles Rolls (corporate 
  finance)                                            + 44 (0) 20 7220 
  Alice Lane (ECM)                     finnCap         0500 
 

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

About Sopheon. Sopheon (LSE: SPE) partners with customers to provide complete Enterprise Innovation Management solutions including software, expertise, and best practices, that enable them to achieve exceptional long-term revenue growth and profitability. Sopheon's Accolade solution provides unique, fully-integrated coverage for the entire innovation management and new product development lifecycle, including strategic innovation planning, roadmapping, idea and concept development, process and project management, portfolio management and resource planning. Sopheon's solutions have been implemented by over 250 customers with over 60,000 users in over 50 countries. Sopheon is listed on AIM, operated by the London Stock Exchange. For more information, please visit www.sopheon.com.

Revenue visibility is defined on page 6 of Sopheon's 2017 annual report which is available from the investor section of www.sopheon.com .

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.

END

TSTBLGDRUGBBGII

(END) Dow Jones Newswires

July 19, 2018 02:00 ET (06:00 GMT)