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REG - Ingenta PLC - Final Results

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RNS Number : 3668G  Ingenta PLC  28 April 2025

Ingenta plc

(the 'Group' or the 'Company')

 

Final Audited Results

 

Ingenta plc (AIM: ING) a leading software and services provider to the
publishing and media industries, announces its final audited results for the
year ended 31 December 2024.

 

Financial Performance

·      Revenue decreased 5.6% to £10.2m (2023: £10.8m) as
non-recurring consultancy revenue slowed down in 2024.

·      Annual Recurring Revenue (ARR)* of £8.9m, representing 87% of
total revenue (2023: £8.7m, 80%). New customer implementations in 2024
expected to yield approximately £0.5m of ARR in 2025.

·      Adjusted EBITDA** £1.8m (2023: £2.2m).

·      Net profit of £1.3m (2023: £2.3m) impacted by non-cash deferred
tax charges of £0.5m (2023: £0.3m credit) combined with non-cash foreign
exchange charges of £0.1m versus a credit of £0.2m in the prior year.

·      Deferred tax charges are linked to a reduction in the Group
deferred tax asset which only recognises loss utilisation over a 5 year
period. The Group now predict that £0.5m of previously reported utilisation
will happen in subsequent periods.

·      Adjusted earnings per share of 11.7 pence*** (2023: 12.8 pence).

·      Reported earnings per share of 8.8 pence (2023: 15.8 pence).

·      Full year dividend 4.1 pence (2023: 4.1 pence), with proposed
final dividend of 2.6 pence per share (2023: 2.6 pence), reflecting the
Board's confidence in the Group's prospects.

 

Strong Balance Sheet Reinforced by Recurring Cash Flows

·      Operating cash inflows of £1.7m (2023: £1.1m).

·      No debt or lease obligations.

·      Cash balances at year end of £3.6m (2023: £2.7m).

 

Encouraging Operational Delivery Leveraging New Group Structure

·      New Ingenta Content wins with total contract value of £0.5m over
three to five years.

·      Significant new Ingenta Commercial win with total contract value
of £1.4m over three years.

 

Current Trading

·      Ongoing implementations on track, with a further Ingenta Content
go live in Q1 2025.

·      New Belgian customer contract win for Ingenta Content in January
2025.

·      Significant pipeline of opportunities for Ingenta Commercial
consultancy work in 2025.

·      Trading in line with expectations with our focus on delivering
sales growth.

 

Dividend Timetable

Subject to approval at the forthcoming AGM, the Company is pleased to announce
a final dividend of 2.6 pence per share which will be paid on 30 June 2025.
The ex-dividend date is 22 May 2025 and the associated record date for the
final dividend is 23 May 2025.

 

* ARR - revenue generated and recognised in the year from annually recurring
software support contracts, hosting services and managed services.

**Adjusted EBITDA - EBITDA before foreign exchange gain / loss and joint
venture write off. See note 3 for details.

***Adjusted earnings per share - earnings before tax, foreign exchange gain /
loss and joint venture write off. See note 5 for details.

Scott Winner, Chief Executive Officer, commented:

 

"The Group produced a steady financial performance in 2024, as we continue to
transition the business to our Software as a Service product suites. Our
products are flexible and adaptable, making them suitable for a wide range of
media businesses of all sizes and giving us a broad target market. We also
benefit from more than 80% of our revenue coming from recurring fees, giving
us good visibility of our near-term performance. With our increased investment
in sales and marketing planned for 2025, we are confident of developing a
larger pipeline of new business and returning to revenue growth in the year
ahead."

 

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.

For further information please contact:

 

Ingenta plc

 

Scott Winner / Jon
Sheffield                              Tel: 01865
397 800

 

Cavendish Capital Markets Limited

 

Katy Birkin / Callum
Davidson                          Tel: 020 7220 0500

Chairman's statement

 

Overview

The Board is encouraged that the Group continues to add customers onto the new
generation of Ingenta software platforms, as these products will provide the
foundation for future growth. During the year, five customers successfully
went live, adding £0.5m of recurring annual revenues to the Group.
Encouragingly, we anticipate further change control work from these accounts
as they look to fine tune their Ingenta deployments.

 

As previously announced, the Group retains a significant element of
higher-margin legacy business which is an important part of the Group's future
strategy. These products and services are robust and will provide continued
value to our customers for the foreseeable future. However, the Board
acknowledges that in some cases customers may decide to migrate to alternative
solutions, either with Ingenta or third-party providers.

 

In the year, four customers with combined annual fees of £0.4m migrated away
from Ingenta platforms and this, along with a slow year for non-recurring
consultancy services, has led to a full-year reduction in revenue. In
response, the Group is prioritising the acceleration of new business
acquisition to offset any future, potentially larger-scale reductions in
legacy revenues, with the aim of returning the Group to growth in revenue and
profit. The Board has sanctioned a £0.5m investment in Group sales and
marketing activity, in order to build a larger and longer-term pipeline of new
business opportunities.

 

As part of our growth drive, we are increasing our use of digital advertising
and industry events to raise our brand awareness, and showcase our flagship
projects, to demonstrate the benefits we can deliver to similar organisations.
We aim to leverage our existing customer relationships to provide our products
and services to their wider groups, and provide wrap-around services, to
develop deeper customer relationships by taking on activities they do not want
to perform themselves. We are aware that consolidation is a feature of our
customers' markets and we are building our account management relationships
and looking to embed ourselves in the customer decision process through our
consulting service, which will help us to retain business if customers merge.

 

The Ingenta Content and Ingenta Commercial product suites are flexible,
well-balanced offerings suited to both small and large customers, which
expands their addressable market in our target segments. Our skilled
development resource means our products are adaptable and can cater for
changing customer needs, and we ensure they meet rigorous data security
standards, for example by using globally recognised software and service
providers. This underpins our confidence in the quality of our offering and
our ability to attract a growing customer base.

 

Dividends

The Board expects to recommend the payment of an unchanged final dividend for
the year of 2.6p per share, taking the total dividend for the year to a total
of 4.1p. Subject to trading remaining in line with expectations, the Board
intends to maintain the level of total dividends in 2025 at the current level
of 4.1p per share.

 

Outlook

The Group anticipates a return to revenue growth in 2025, driven by the
investment in sales and marketing, and there are promising early signs with
another new contract win in January. However, despite the expected increase in
sales, profitability in 2025 is expected to be lower than 2024, as the
investments made take time to bed in. Additionally, the rebalancing of revenue
in favour of new generation software will impact margins, as they attract a
higher level of cloud infrastructure cost than legacy on-premise deployments.

 

Martyn Rose

Chairman

 

 

Financial review

 

The Group operates as one reporting segment with two core revenue categories
of Ingenta Commercial and Ingenta Content.

 

Ingenta Commercial

Ingenta Commercial provides a variety of modular publishing management systems
for both print and digital products. Its core area of expertise is
intellectual property management, including the associated contracts, rights
and royalties. The software has an established publisher client base and is
highly adaptable, so it can also be applied to broader media markets including
music, television and film.

 

Commercial revenues were £7.0m (2023: £7.6m) with the decrease driven mainly
by a reduction in non-recurring legacy software consultancy services. In prior
years, consultancy activity has been strong as customers undertook significant
projects to modify and integrate their back end IT infrastructure. Whilst
opportunities were slower to materialise in 2024, early indications suggest an
upturn in 2025 as the Group is discussing a number of potential engagements.
During the year two legacy customers with combined recurring annual fees of
£0.1m left the Group.

 

Ingenta Content

The Ingenta Content suite of products enables publishers of any size,
discipline or technical proficiency to convert, store, deliver and monetise
digital content on the web.

 

Annual revenue remained stable at £3.2m (2023: £3.2m), as the Group
successfully implemented five more customers onto the platform, with
associated annual fees of £0.5m. Encouragingly, these new customers also have
change control work they would like to pursue and the Group is scoping out
requirements with a view to commencing work in 2025. During the year, two
customers with annual fees of £0.3m left the Group.

 

Financial Performance

Group revenue decreased to £10.2m (2023: £10.8m). As outlined above, this
was a consequence of slower consultancy services revenue, particularly within
Ingenta Commercial legacy products.

 

Annual recurring revenue (see note 2) was £8.9m or 87% of total revenue
(2023: £8.7m and 80% respectively). Although Group revenue declined slightly,
the business has been replacing legacy software revenues with next-generation
products, which should provide a solid foundation for future growth.

 

Sales and marketing spend was stable at £0.8m but the Group has announced its
intention to invest £0.5m in sales and marketing activities, to accelerate
new business wins. We have identified a number of roles that will help secure
new business in our target markets and we are actively recruiting.
Administrative costs declined slightly to £2.4m (2023: £2.6m) driven by the
release of a £149K payable balance no longer required after formal wind up of
the Group's 49% share of a Chinese Joint Venture plus the release of a £100K
contract provision. Additionally, the Group benefited from reduced
depreciation charges, as the business continues its policy of adopting cloud
infrastructure wherever possible.

 

Adjusted EBITDA was £1.8m (2023: £2.2m) and was impacted in the year by the
slower than expected consultancy revenues mentioned above. Similarly, profit
from operations declined to £1.8m (2023: £2.0m), as disclosed in the
statement of comprehensive income.

 

The Group has significant accumulated tax losses and anticipates making use of
£12.0m and $5.7m in the UK and US respectively. For the deferred tax
calculation, the Group reviews expected profits and use of tax losses over a
five-year period. The £0.5m investment in sales and marketing activity
described above means we expect that profits will now be lower in 2025. As a
consequence, the losses may take longer to utilise, which in turn reduces the
valuation of the deferred tax asset. The £0.5m tax charge (2023: £0.3m tax
credit) is the adjustment to reduce the deferred tax asset from £1.6m to
£1.1m (see note 5 for further details). Utilisation of losses means the
Group's cash tax payments in respect of 2024 are minimal.

 

Financial Position

The Group has a robust balance sheet. Non-current assets of £3.9m (31
December 2023: £4.4m) include goodwill of £2.7m (31 December 2023: £2.7m).
The Group tests goodwill for impairment each year using discounted cashflows
and did not identify any impairment in the year. Property, plant and equipment
of £0.1m reflects tight control of our expenditure and our infrastructure
strategy to leverage Cloud-based services wherever possible. The balance of
non-current assets is the deferred tax asset, with the reduction explained
above.

 

Current assets increased from £4.9m to £5.7m, driven by increased cash
balances reflecting our continued operational efficiency. See below for more
information on cashflow.

 

Total liabilities decreased from £3.6m to £3.1m, primarily because the Group
released £0.3m of provisions after successfully completing all of its
software obligations. The Group has no debt or lease obligations.

 

Cashflow

The Group generated £1.7m of operating cashflow in the year (2023: £1.1m).
Differences in cash generation year on year are mainly a timing issue, as the
Group has a significant element of legacy annual renewal business. These
renewals are billed in the final quarter of the year, causing increases in
contract liabilities, with cash receipts tending to fall either side of year
end. New business is predominantly contracted on a SaaS style arrangement, so
is less prone to these timing issues. Closing cash balances were £3.6m (31
December 2023: £2.7m), increasing to £3.8m at the end of February 2025.

 

Earnings per share and dividends

The Group maintained its progressive dividend policy and paid out £0.6m in
the year (2023: £0.5m). The Board is proposing to maintain the full year
dividend for 2024 at 4.1p per share (2023: 4.1p) subject to shareholder
approval of the 2.6p per share final dividend at the forthcoming AGM. The
parent Company distributable reserves were £7.6m at 31 December 2024.

 

Basic earnings per share were 8.8p (2023: 15.8p) but these are heavily
impacted by movements in deferred tax and unrealised foreign exchange
movements on intercompany balances. Adjusted earnings per share, after
removing these non-cash items and the joint venture write off, were 11.7p
(2023: 12.8p).

 

Going concern

The core fundamentals of the Group remain strong, with profitable operations,
cash reserves at the end of February 2025 of over £3.8m and no debt on the
balance sheet. The Directors have prepared detailed cashflow projections,
including sensitivity analysis, to the end of June 2026. Management is
satisfied that cash is sufficient for the needs of the business and
accordingly, the Group continues to adopt the going concern basis in preparing
its consolidated financial statements.

 

 

Jon Sheffield

Chief Financial Officer

Group Statement of Comprehensive Income

 

 

                                                                                       Year ended    Year ended

                                                                                       31 Dec 24     31 Dec 23
                                                                                 note  £'000         £'000

 Group revenue                                                                   2     10,199        10,825
 Cost of sales                                                                         (5,214)       (5,429)

 Gross profit                                                                          4,985         5,396

 Sales and marketing expenses                                                          (750)         (757)
 Administrative expenses                                                               (2,408)       (2,590)

 Profit from operations                                                          3     1,827         2,049

 Finance costs                                                                         (2)           (17)

 Profit before income tax                                                              1,825         2,032
 Income tax                                                                      5     (546)         267

 Profit for the year attributable to equity holders of the parent                      1,279         2,299

 Other comprehensive expenses which will be reclassified subsequently to profit
 or loss:
 Exchange differences on translation of foreign operations                             78            (190)

 Total comprehensive profit for the year attributable to equity holders of the         1,357         2,109
 parent

 Basic profit per share (pence)                                                  6     8.81          15.82
 Dilutive profit per share (pence)                                               6     8.60          15.50

 

 All activities are classified as continuing

Group Statement of Financial Position

 

                                Note    31 Dec 24    31 Dec 23
                                £'000                £'000
 Non-current assets
 Goodwill                               2,661        2,661
 Property, plant and equipment          121          93
 Deferred tax asset                     1,108        1,622
                                        3,890        4,376
 Current assets
 Trade and other receivables            2,065        2,185
 Cash and cash equivalents              3,619        2,676
                                        5,684        4,861

 Total assets                           9,574        9,237

 Equity
 Share capital                  7       1,510        1,512
 Capital redemption reserve             182          180
 Merger reserve                         11,055       11,055
 Reverse acquisition reserve            (5,228)      (5,228)
 Share option reserve                   172          140
 Translation reserve                    (410)        (488)
 Retained earnings                      (856)        (1,510)
 Total equity                           6,425        5,661

 Non-current liabilities
 Deferred tax liability                 2            -
                                        2            -

 Current liabilities
 Trade and other payables               1,159        1,218
 Provisions                             -            307
 Contract liabilities                   1,988        2,051
                                        3,147        3,576

 Total liabilities                      3,149        3,576

 Total equity and liabilities           9,574        9,237

 

Group Statement of Changes in Equity

 

                                              Share capital  Capital redemption reserve  Merger reserve  Reverse acquisition reserve  Translation reserve  Retained earnings  Share option reserve  Total attributable to owners of parent
                                              £'000          £'000                       £'000           £'000                        £'000                £'000              £'000                 £'000
 Balance at 1 January 2023                    1,512          180                         11,055          (5,228)                      (298)                (3,264)            117                   4,074
 Dividends paid                               -              -                           -               -                            -                    (545)              -                     (545)
 Share options granted in the year            -              -                           -               -                            -                    -                  23                    23
 Transactions with owners                     -              -                           -               -                            -                    (545)              23                    (522)

 Profit for the year                          -              -                           -               -                            -                    2,299              -                     2,299
 Foreign exchange differences on translation  -              -                           -               -                            (190)                -                  -                     (190)
 Total comprehensive income for the year      -              -                           -               -                            (190)                2,299              -                     2,109

 Balance at 31 December 2023                  1,512          180                         11,055          (5,228)                      (488)                (1,510)            140                   5,661
 Dividends paid                               -              -                           -               -                            -                    (596)              -                     (596)
 Shares repurchased and cancelled             (2)            2                           -               -                            -                    (29)               -                     (29)
 Share options granted in the year            -              -                           -               -                            -                    -                  32                    32
 Transactions with owners                     (2)            2                           -               -                            -                    (625)              32                    (593)

 Profit for the year                          -              -                           -               -                            -                    1,279              -                     1,279
 Foreign exchange differences on translation  -              -                           -               -                            78                   -                  -                     78
 Total comprehensive income for the year      -              -                           -               -                            78                   1,279              -                     1,357

 Balance at 31 December 2024                  1,510          182                         11,055          (5,228)                      (410)                (856)              172                   6,425

 

Group Statement of Cash Flows

 

                                                                      Year ended    Year ended

                                                                      31 Dec 24     31 Dec 23
                                                                Note  £'000         £'000

 Profit before taxation                                               1,825         2,032

 Adjustments for
 Depreciation                                                         56            288
 Profit on disposal of fixed assets                                   (1)           -
 Interest expense                                                     2             17
 Share based payment charge                                           32            23
 Increase in trade and other receivables                              121           (276)
 Decrease in trade and other payables and contract liabilities        (44)          (1,112)
 (Decrease) / Increase in provisions                                  (307)         168
 Cash inflow from operations                                          1,684         1,140

 Tax paid                                                             (30)          (7)
 Net cash inflow from operating activities                            1,654         1,133

 Cash flows from investing activities
 Purchase of property, plant and equipment                            (84)          (80)
 Net cash used in investing activities                                (84)          (80)

 Cash flows from financing activities
 Interest paid                                                        (2)           (17)
 Payment of lease liabilities                                         -             (192)
 Dividend paid                                                        (596)         (545)
 Costs of share repurchase                                            (29)          -
 Net cash used in financing activities                                (627)         (754)

 Net increase / (decrease) in cash and cash equivalents               943           299

 Cash and cash equivalents at the beginning of the year               2,676         2,376

 Exchange differences on cash and cash equivalents                    -             1

 Cash and cash equivalents at the end of the year                     3,619         2,676

 

1. Basis of preparation

 

The financial information of the Group set out above does not constitute
statutory accounts for the purposes of Section 435 of the Companies Act
2006.  The financial information for the year ended 31 December 2024 has
been extracted from the Group's audited financial statements which were
approved by the Board of directors on 25 April 2025.

 

The financial information for the year ended 31 December 2024 has been
extracted from the Group's financial statements for that period. The report
of the auditor on the 2024 financial statements was unqualified, did not
include any references to any matters to which the auditors drew attention by
way of emphasis without qualifying their report and did not contain a
statement under Section 498(2) or Section 498(3) of the Companies Act 2006.

 

Whilst the financial information included in this preliminary announcement
has been prepared in accordance with UK adopted international accounting
standards ("IASs") in conformity with the requirements of the Companies Act
2006, the International Financial Reporting Interpretations Committee
("IFRIC"), interpretations issued by the International Accounting Standards
Boards ("IASB") that are effective or issued and adopted as at the time of
preparing these financial statements, and in accordance with the provisions of
the Companies Act 2006 that are relevant to companies that report under UK
adopted IASs, this announcement does not itself contain sufficient information
to comply with those IASs. This financial information has been prepared in
accordance with the accounting policies set out in the 2022 Report and
Accounts and updated for new standards adopted in the current year.

 

Items included in the financial information of each of the Group's entities
are measured using the currency of the primary economic environment in which
the entity operates (the functional currency). The consolidated financial
information is presented in UK sterling (£), which is the Group's
presentational currency.

 

The Company is a public limited company incorporated and domiciled in England
& Wales and whose shares are traded on AIM, a market operated by the
London Stock Exchange.

 

The principal activity of Ingenta plc and its subsidiaries is the sale of
software and ancillary services.

 

2. Revenue

 

An analysis of the Group's revenue is detailed below by activity across the
Group's operating units:

                             Year ended    Year ended

                             31 Dec 24     31 Dec 23
                             £'000         £'000

 Licences                    -             24
 Consulting Services         1,297         2,087
 Non-recurring revenue       1,297         2,111

 Hosted Services             3,644         3,509
 Managed Services            2,742         2,668
 Support and upgrade         2,163         2,197
 PCG                         353           340
 Annual recurring revenue    8,902         8,714

                             10,199        10,825

 

An analysis of the Group's revenue by product type is detailed below:

                                Year ended    Year ended

                                31 Dec 24     31 Dec 23
                                £'000         £'000

 Commercial product division    6,990         7,646
 Content product division       3,209         3,179
                                10,199        10,825

 

A geographical analysis of the Group's revenue is detailed below:

                      Year ended    Year ended

                      31 Dec 24     31 Dec 23
                      £'000         £'000

 UK                   5,340         5,266
 USA                  3,929         4,418
 Netherlands          301           345
 France               227           208
 Rest of the World    402           588
                      10,199        10,825

 

Two customers each contributed more than 10% of revenue (2023: two) and this
amounted to £3,510K (2023: £3,578K).

 

3. Profit from operations

 

Profit from operations has been arrived at after charging:

                                                  Year ended    Year ended

                                                  31 Dec 24     31 Dec 23
                                                  £'000         £'000

 Research and development costs                   1,227         1,176
 Net foreign exchange loss / (gain)               52            (168)
 Depreciation of property, plant and equipment
 - owned assets                                   56            94
 - assets under leases                            -             194
 Auditor's remuneration                           140           140

 

An analysis reconciling the profit from operations to adjusted EBITDA is
provided below.

 

                                    Year ended     Year ended

                                    31 Dec 24     31 Dec 23
                                    £'000         £'000

 Profit from operations             1,827         2,049

 Add back:
 Depreciation and amortisation      56            288
 EBITDA                             1,883         2,337

 Adjusted for:
 Joint venture payable write off    (149)         -
 Foreign exchange loss / (gain)     52            (168)

 Adjusted EBITDA                    1,786         2,169

 
4. Tax

 

                                              Year ended    Year ended

                                              31 Dec 24     31 Dec 23
                                              £'000         £'000
 Analysis of (charge) / credit in the year
 Current tax:
 Current year State tax - US                  (8)           (5)
 Adjustment to prior year charge - UK         (3)           (3)
 Adjustment to prior year charge - US         (19)          -
 Deferred tax (charge) / credit               (516)         275
 Taxation                                     (546)         267

 

The Group has accumulated tax losses at 31 December 2024 in the UK and the US
of £12.0m (2023: £13.9m) and $5.7m (2023: $7.0m) respectively. These losses
have been agreed with the tax authorities in the UK and US. The Board intends
to make use of all losses wherever possible.

 

Management has utilised £4.8m of Group losses to recognise a £1.1m (2023:
£1.6m) deferred tax asset at year end, which is based on expected taxable
profits over the next five years. Management do not believe they have adequate
information to make an assessment of utilisation beyond five years.

 

At year end there are unutilised tax losses of £9.3m and $3.1m in the UK and
US respectively. From 1 April 2023, the UK corporation tax rate applicable to
companies with taxable profits above £250,000 is 25%. Companies with profits
below £50,000 pay tax at 19%. Those with taxable profits between £50,000 and
£250,000 benefit from marginal relief, similar to that which applied before
the previous incarnation of the small companies' rate of corporation tax was
abolished with effect from 1 April 2015.

 

The differences are explained below:

 

 Reconciliation of tax expense                              Year ended     Year ended

                                                            31 Dec 24     31 Dec 23
                                                            £'000         £'000
 Profit on ordinary activities before tax                   1,825         2,032

 Tax at the UK corporation tax rate of 25% (2023: 23.5%)    456           477
 Income / expenses not allowable for tax purposes           7             (22)
 Unrelieved losses carried forward                          39            31
 Utilisation of losses                                      (476)         (525)
 Difference in timing of allowances                         (15)          42
 Deferred tax movement                                      516           (275)
 Adjustment to tax charge in respect of prior years         19            5
 Total taxation                                             546           (267)

 

UK corporation tax is calculated at 25% (2023: 23.5%) of the estimated
assessable profit for the year. Taxation for other jurisdictions is calculated
at the rates prevailing in the respective jurisdictions.

 
5. Earnings per share

 

Basic earnings per share is calculated by dividing the earnings attributable
to ordinary shareholders by the weighted average number of ordinary shares
outstanding during the year.

 

For diluted earnings per share, the weighted average number of ordinary shares
in issue is adjusted to assume conversion of all dilutive ordinary share
options. Management estimates that there are a further 347,451 ordinary shares
(2023: 297,097) in respect of share options.

 

                                                                                   Year ended       Year ended

                                                                                   31 Dec 2024     31 Dec 2023
                                                                                   £'000           £'000

 Attributable profit                                                               1,279           2,299
 Adjustments for:
 Foreign exchange                                                                  52              (168)
 Write back of Joint venture creditor                                              (149)           -
 Deferred tax movement                                                             516             (275)
 Adjusted attributable profit                                                      1,698           1,856

 Weighted average number of ordinary shares used in basic earnings per share       14,523          14,535
 ('000)
 Shares deemed to be issued in respect of share-based payments                     347             297
 Weighted average number of ordinary shares used in dilutive earnings per share    14,870          14,832
 ('000)

 Basic profit per share arising from both total and continuing operations          8.81p           15.82p
 Dilutive profit per share arising from both total and continuing operations       8.60p           15.50p
 Adjusted basic profit per share from both total and continuing operations         11.69p          12.77p

 

Dividends

 

On 19 July 2024 the Company paid a final dividend of 2.6 pence per share for
the year ended 31 December 2023. On 4 November 2024 an interim dividend of 1.5
pence per share was paid in respect of the year ended 31 December 2024.

 

After the year end, the Directors declared their intention to pay a final
dividend of at 2.6 pence for the year ended 31 December 2024.

 

6. Share capital

 

                                                                                Year ended      Year ended

                                                                                31 Dec 2024     31 Dec 2023
                                                                                £'000           £'000
 Issued and fully paid:
 15,098,125 (2023: 15,123,125, 2022: 15,123,125) ordinary shares of 10p each    1,510           1,512

 

There is one class of ordinary shares and holders are entitled to receive
dividends as declared from time to time and are entitled to one vote per share
at shareholder meetings.

Share transactions

During the year, the Company purchased 25,000 ordinary shares at 114 pence per
share (2023: nil). These shares were subsequently cancelled. There were no
shares issued during the year (2023: nil).

7. Publication of non-statutory accounts

 

The financial information set out in this announcement does not constitute
statutory accounts as defined in the Companies Act 2006.

 

The Group Statement of Comprehensive Income, Group Statement of Financial
Position, Group Statement of Changes in Equity, Group Statement of Cash Flows
and associated notes have been extracted from the Group's 2024 statutory
financial statements upon which the auditor's opinion is unqualified and which
do not include any statement under section 498 of the Companies Act 2006.

 

Those financial statements will be delivered to the Registrar of Companies
following the release of this announcement.

 

This announcement and the annual report and accounts, including the Notice of
Annual General Meeting, are available on the Company's website
www.ingenta.com. A copy of the report and accounts will be sent to
shareholders who have elected to receive a printed copy with details of the
annual general meeting in due course.

 

 

 

 

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.   END  FR FLFSASSIDFIE

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