14 May 2002
Ingenta Reports Maiden Profit Ahead of Market Expectation
The Board of Ingenta plc, which manages and distributes published scientific, professional and academic research via the Internet and develops and maintains Specialist Websites for publishers, self-publishing societies and libraries, has announced its interim results.
The Board reported that in the six months to 31st March 2002 the Company produced its maiden EBITDA profit, and that it is on target to achieve its first reported pre-tax profits (excluding goodwill amortisation) for the full year to 30th September 2002. During the six months to 31st March 2002 the Company also continued to experience rapid sales growth in all its markets, further growth in margins and lower overhead costs.
Highlights:
· Sales up 52%
· Maiden EBITDA profit of £0.1m (six months to 31st March 2001: £(3.6)m loss)
· Second quarter profitable at the pre-tax level
· Full year results expected to be profitable before goodwill amortisation and in line with expectations
· Gross profit increased almost 70% from £3.5m to £5.9m
· Gross margins up from 76% to 83%
· Pre-tax loss, excluding goodwill amortisation, substantially reduced to £(0.6)m (2001: £(5.6)m)
· Strong forward order book
· Current trading continues to show substantial growth.
Commenting on the results, Martyn Rose, Chairman, said: "I am delighted to report that Ingenta has delivered its first reported EBITDA profit. The strong forward momentum of the business is now producing rapid profits growth quarter by quarter, with the second quarter profitable at the pre-tax level. The strong forward order book underpins a continuing and highly visible trend of profit improvement in the second half of the year and as a result management is confident that full year profits will be in line with expectations."
|
News Stories 
