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Ideagen expects annual trading to be in line with expectations

By BFN News | 08:36 AM | Tuesday 08 May, 2018


Ideagen said it expected annual trading to be in line with market expectations supported by acquisitions made last year. Ideagen said it expects to report revenue rose 33% to about £36.1m in the financial year ended 30 April 2018, from £27.1m the previous year, and adjusted earnings (EBITDA) of £11.0m, up 40%, from £7.9m. Adjusted earnings per share is also expected to 'significantly' improve on the prior year, the firm said. Last year's acquisitions all contributed positively to the group's growth, while the recently acquired Medforce Technologies Inc. was performing as expected, the firm said. Ideagen said David Hornsby had moved from the role of Chief Executive Officer to become the group's Executive Chairman. Ben Dorks, currently Chief Customer Officer, had succeeded Hornsby to become Ideagen's Chief Executive Officer. These changes were designed to 'optimise the talent and expertise' within the company, providing a structure that would ensure the board's skillset remained aligned to the group's ongoing growth strategy, Ideagen said. At 8:36am: (LON:IDEA) Ideagen share price was +2.5p at 115p Story provided by StockMarketWire.com

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