14th May 2019 13:09
LONDON (Alliance News) - Ideagen PLC on Tuesday said it expects annual results to be marginally ahead of market expectations, with growth in revenue and adjusted earnings before interest, taxes, depreciation, and amortization.
Ideagen shares were 4.7% higher in midday trade at 134.00 pence each.
The management software supplier said trading for the year to the end of April has been strong, with revenue up 29% to GBP46.7million from GBP36.1 million a year prior and adjusted Ebitda up 30% to GBP14.3 million from GBP11.0 million.
Ideagen said its annual recurring revenue book at April 30 was up 44% at GBP36.4 million compared to GBP25.3 million the year before, driven by an increase in software-as-a-service bookings coupled with the three acquisitions made within the year.
"Our growing base of recurring revenues and a strong pipeline of business opportunities from new logos and our growing customer base provides the board with confidence for the current year and beyond," said Chief Executive Ben Dorks.
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