30 Jan, 2020 11:16

Ingenta revenues to top £10m as efficiencies kick in

Software and services provider Ingenta said on Thursday full-year revenues looked set to come in at around £10.9m, while adjusted underlying earnings were forecast to be approximately £1.3m.

Ingenta group generated operating cash inflows of £3.5m in the year - before expenditure on research and development of £1.4m, dividends of £300,000 and planned reorganisation costs of £500,000, resulting in a net cash balance of £2.6m at year-end.

The AIM-listed added that its cash performance was improved by £500,000-worth of accelerated cash receipts from the year-end annual renewal cycle.

Ingenta said its headline figures indicated it was now better equipped to service its diverse customer base with a coherent set of solutions and services.

The group's board also confirms its intention to pay a dividend of at least 1.5p per ordinary share for the 2019 financial year.

Chief executive Scott Winner said: "I'm pleased with the progress made in 2019 and these results bear testament to the operational efficiencies we have implemented."

As of 0955 GMT, Ingenta shares were up 6.01% at 75.80p.