REG - Ingenta PLC - Trading Update

IngentaAnnouncement

02/02/2023 07:00

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RNS Number : 6547O  Ingenta PLC  02 February 2023

2 February 2023

 

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 2022.

The Group expects to report revenue of approximately £10.45m (2021: £10.15m)
and adjusted EBITDA of approximately £1.95m (2021: £1.45m), in line with
market expectations. Closing year end cash balances were £2.4m (2021: £3.0m)
after completion of the previously announced £2.07m tender offer in November
2022. 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 2.25 pence
(2021: 2 pence) per ordinary share for the 2022 financial year, subject to
shareholder approval at the 2023 AGM. The proposed final dividend timetable
will be announced following the 2023 AGM.

The Group expects to announce its final results for the year ended 31 December
2022 in April 2023.

Scott Winner, Chief Executive Officer, commented:

"I'm pleased to report that in 2022 the Group delivered top line revenue
growth combined with strong efficiency gains delivered in prior periods. This
growth was generated primarily from our Commercial product division where we
have had strong uptake of our consultancy and managed service offering.

On the new business front, we added three customers to our web-based digital
content distribution platform and encouragingly, have also simplified the
upgrade process for customers looking to migrate to more advanced SaaS-based
solutions. Sales pipeline activity is encouraging, and we are actively looking
to build on the revenue growth reported in 2022."

 

For further information contact:

 

 Ingenta Plc                              +44 (0) 1865 397 800
 Scott Winner, Chief Executive Officer

 Jon Sheffield, Chief Financial Officer

 Cenkos Securities plc                    +44 (0) 20 7397 8900

Katy Birkin

 Callum Davidson

 

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.

 

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