Change of Results Date

RNS Number : 1301I

Ingenta PLC

31 March 2020

 

31 March 2020

Ingenta plc
("Ingenta" or the "Group")

Change of Results Date

Ingenta plc (AIM: ING), a leading software and services provider to the publishing and media industry, provides the following update regarding its preliminary results announcement for the year ended 31 December 2019.

The ongoing COVID-19 pandemic is causing significant uncertainty within global markets and, following recent regulatory guidance and advice from the Group's auditors, the Board has decided to postpone the announcement of its results until a sensible assessment can be made. The Board, in conjunction with the Company's advisors, will update the market on a revised timetable as soon as practicable.

As announced on 30 January 2020, the Group expects to report revenues of £10.9m and adjusted EBITDA of approximately £1.3m. Adjusted operating cash inflows of £3.5m benefited from £0.5m of accelerated cash receipts from the year end annual renewals cycle. The adjusted operating cash inflows are reported before research and development costs of £1.4m and restructuring costs of £0.5m.

At the end of February, the business had £3.7m of cash which was deemed sufficient to cover any medium-term impact of the COVID-19 outbreak. The Group has implemented full remote working and business operations remain unaffected. To date, current trading has held up although delays are anticipated in new sales activity as companies delay investment decisions.

For further information contact:

Ingenta Plc Scott Winner, Jon Sheffield	[phone]
Cenkos Securities plc Nicholas Wells, Harry Hargreaves	[phone]

 

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