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Ideagen PLC (IDEA)

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Tuesday 07 May, 2013

Ideagen PLC

Trading Update

RNS Number : 0413E
Ideagen PLC
07 May 2013
 



Ideagen plc

("Ideagen" or the "Company")

Trading Update

Ideagen PLC (AIM: IDEA), a leading supplier of Compliance based Information Management solutions, provides the following pre-close trading update for the year ended 30th April 2013.

The Company is pleased to report that its three key metrics of revenue, adjusted EBITDA* and net cash are all expected to show significant growth over last year and be comfortably ahead of current market estimates.

The Company expects to report revenue growth of no less than 62% to £6.5m (2012: £4.0m) and adjusted* EBITDA growth of no less than 70% to £2.0m (2012: £1.2m). Cash at year end was approximately £6.4m (2012: £1.5m) due to strong operational cashflow representing approximately 100% of adjusted EBITDA* and the £6m equity fundraising announced in December 2012.  Revenue growth has been particularly encouraging in both the US and UK Healthcare sectors driven by the acquisitions of Plumtree Group Ltd and Proquis which have been successfully integrated into the group and have both delivered significant organic revenue and profit growth during the year.

The Company will issue its preliminary results in mid-July.

David Hornsby, Chief Executive of Ideagen, commented, "I am delighted with the progress that we have made this year particularly in our key Healthcare sector. Our solutions continue to solve critical business problems for highly regulated organisations and I look forward to further organic and acquisitive growth next year."

*Adjusted EBITDA is defined as earnings before interest, tax, depreciation, amortisation, share based payments and acquisition costs relating to the acquisition of Plumtree Group Limited.

Enquiries:

 

 

Ideagen Plc       

 

Tel: 01629 761590

David Hornsby, Chief Executive

 

 

Graeme Spenceley, Finance Director

 

 

 

 

finnCap Limited        

 

Tel: 020 7220 0500

Matt Goode/Charlotte Stranner/Ben Thompson (corporate finance)

 

 

Stephen Norcross (corporate broking)

 

 

 

 

Walbrook PR Ltd      

 

Tel: 020 7933 8780

Helen Westaway

 

[email protected]

Paul Cornelius          

 

[email protected]

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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