21 July 2015 – trading update
The company has revealed that first half trading has been ahead of expectations with a strong financial performance. This performance has been due to increased demand for the group’s products and services, successful customer and project wins and expansion both geographically and through additional partners. Group revenue is expected to be up 56% to €72.4m with EBITDA 55% higher at €34.2m. Strong cash flow has led to a net cash position of €47.4m at the end of June compared with €40.4m at 31 December 2014. The group is well placed to deal with any impact from the current situation in Greece as previously announced and we retain our recommendation of BUY.