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SDL revenue up 8%

By BFN News | 08:31 AM | Friday 12 January, 2018

Language translation software provider SDL said it expected to grow annual revenue by around 8%, despite a number of deals not closing as expected. Revenue was expected to grow to £285m, the company said, while adjusted Ebitda would come in at around £22m, after R&D capitalisation of around £2.5m. Net cash was in excess of £22 million at 31 December 2017. "In its December trading update, SDL advised that certain software deals may not close by 31 December 2017 and this occurred in a number of cases," the company said. "The group continues to work with customers to sign these deals." "Also as previously disclosed, SDL experienced a faster, market-driven shift to Software-as-a-Service sales in 2017, which impacted group revenues by approximately £1 million to £2 million." SDL said that gross margins in its language services division improved in the second half of 2017. At 8:31am: (LON:SDL) SDL PLC share price was +8.5p at 438.5p Story provided by

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