Year end trading statement

RNS Number : 1308X

Jaywing PLC

04 May 2016

 

Date:                     0700 Wednesday 4^th May

On behalf of:     Jaywing plc ("the Company")

Jaywing plc

("Jaywing" or "the Company")

Year-end trading statement

Jaywing plc (the "Company"), the UK agency specialising in the application of data science, today publishes the following update for its financial year ended 31^st March 2016.

The Company has experienced good trading for the year.  The fourth quarter, traditionally the busiest and most profitable period of the year was stronger than anticipated resulting in both revenues and underlying profits for the year being marginally ahead of market expectations.

Gross profit and adjusted EBITDA* are expected to increase organically by approximately 6% and 7% respectively for the year, with better than expected after-tax profit.  The Company's growth arises solely within the UK.

The Company had good cash generation in the period and saw improved margins, with a higher proportion of recurring revenues. 

Epiphany, acquired in March 2014, and with a strong pedigree in search marketing, continues to be a key driver of growth for Jaywing and its market proposition is now enhanced through the work of the Company's team of over 60 data scientists.  Epiphany is now an integral part of Jaywing's client offering with teams across the business working closely together.

Overall, the performance in 2015/16 confirms that the strategy to adopt a collaborative "one Company" model rather than the traditional agency group model is working well and is helping to provide an increasingly integrated services offering to match clients' needs.

Cash Generation

The business continues to be cash generative from operations. Net debt has risen slightly from the prior year-end as a result of the final earn-out payments for Epiphany and Iris.

People

The Company is also pleased to announce that it has made a senior hire to the newly created role of Sales & Marketing Director. Brett Jacob joins from Experian with a wealth of experience in selling data-led propositions to major blue chip clients. His remit covers new business activities and cross sales for existing service lines and new products including Almanac, the Company's recently launched online data management platform. 

Outlook

The Company has had a positive start to the new financial year as a result of the momentum seen in the final quarter of 2015/16 and the launch of its collaboration with the Data Science Institute at Imperial College London.

Preliminary Results

The Company expects to announce its preliminary results for the year ended 31 March 2016 on 12 July 2016.

*excluding amortisation, share based payments and exceptional items

Enquiries:

Jaywing plc (www.jaywingplc.com)
Michael Sprot (Company Secretary)                        Tel: [phone]

Cenkos Securities plc

Nicholas Wells/Ivonne Cantú (Nomad)                 Tel: [phone]

 

END

 

 

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