Ingenta sees FY revenue and EBITDA fall in 2020

Software and services group Ingenta said on Wednesday that full-year revenues and adjusted underlying earnings were both projected to have fallen in 2020.

Ingenta expects to report revenues of approximately £10.1m, down from £10.9m in 2019, as adjusted underlying earnings slipped from £1.3m to roughly £1.2m.

Closing year-end cash balances were also lower at £2.3m, down from £2.6m a year earlier.

However, the AIM-listed group did confirm its intention to pay a dividend of at least 1.5p per ordinary share for the 2020 financial year, subject to shareholder approval at its 2021 annual general meeting.

Chief executive Scot Winner said: "2020 has been a challenging year but I'm pleased with the resilience the Group has shown across all our products and services.

"Encouragingly, our existing customers have also looked to strengthen their relationships with Ingenta and we were also delighted to announce a significant multiyear Vista as a Service hosting arrangement with a global publishing partner in October 2020. It is anticipated a similar offering will be attractive to other publishers as they look to concentrate on core activities rather than manage complex IT infrastructure requirements."

As of 0845 GMT, Ingenta shares were down 4.29% at 78.0p.