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Ideagen sees earnings 'significantly' ahead of prior year amid boost from acquisitions, sales

By BFN News | 09:57 AM | Wednesday 13 November, 2019


Ideagen said half-yearly earnings was expected to be 'significantly' ahead on-year as revenue grew 7%, led by a boost from acquisitions and increased sales. For the six months ended 31 October 2019, organic revenue grew 7%, with annual recurring revenue rising 20% to £43.9m. The performance was based on strong customer demand and sales execution in the period and indicates that the transition to a recurring model is progressing successfully and is ahead of schedule,' the company said. 'The board is pleased to report that trading has remained strong in the first half of the financial year and that revenue and EBITDA are both expected to be significantly ahead of the same period last year and in line with management's expectations,' it added. At 9:57am: (LON:IDEA) Ideagen share price was +3.5p at 154.5p Story provided by StockMarketWire.com

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