2 February 2023
Ingenta plc
("Ingenta" or the "Group")
Trading Update
Ingenta plc (AIM: ING), a leading software and services provider to the publishing and media industries, is pleased to provide the following trading update for the year ended 31 December 2022.
The Group expects to report revenue of approximately £10.45m (2021: £10.15m) and adjusted EBITDA of approximately £1.95m (2021: £1.45m), in line with market expectations. Closing year end cash balances were £2.4m (2021: £3.0m) after completion of the previously announced £2.07m tender offer in November 2022. Ingenta has no debt.
In line with the previously stated intention to implement a progressive dividend policy, the Board intends to pay a final dividend of 2.25 pence (2021: 2 pence) per ordinary share for the 2022 financial year, subject to shareholder approval at the 2023 AGM. The proposed final dividend timetable will be announced following the 2023 AGM.
The Group expects to announce its final results for the year ended 31 December 2022 in April 2023.
Scott Winner, Chief Executive Officer, commented:
"I'm pleased to report that in 2022 the Group delivered top line revenue growth combined with strong efficiency gains delivered in prior periods. This growth was generated primarily from our Commercial product division where we have had strong uptake of our consultancy and managed service offering.
On the new business front, we added three customers to our web-based digital content distribution platform and encouragingly, have also simplified the upgrade process for customers looking to migrate to more advanced SaaS-based solutions. Sales pipeline activity is encouraging, and we are actively looking to build on the revenue growth reported in 2022."
For further information contact:
| Ingenta Plc Jon Sheffield, Chief Financial Officer | +44 (0) 1865 397 800 |
|
Cenkos Securities plc Callum Davidson |
+44 (0) 20 7397 8900 |
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