23 April 2018 – trading update
The data solutions specialist has updated the market with a more detailed trading statement covering the year to 31 March although this has really only re-iterated the statement of a few days ago. Group revenues for the year are expected to be in the region of £20m whilst adjusted pre-tax profits are likely to be slightly ahead of management expectations. Group margins have remained strong and the group has ended the year with a strong net cash position of £3.9m. The group’s Celebrus software products are seeing strong demand although revenues have declined slightly due to a move by customers to a recurring revenue model which will increase recurring revenues at the group going forward. This is clearly a positive move for the group. The group has started the year in a positive manner and with further progress expected this year the shares remain a BUY.