23rd Jan 2015 08:49
LONDON (Alliance News) - Software company Microgen PLC on Friday said it expects to meet its expectations for the year on satisfactory trading in the final months of 2014 and said it is reviewing plans to return cash to shareholders.
The group said trading across the business was in line in the final months of 2014, leading to expect its results for the year to December 31 to be in line with guidance.
The company said it has gross cash of GBP40.9 million and net funds of GBP24.6 million at year-end. It has been evaluating potential acquisition opportunities but does not anticipate making a deal in the foreseeable future.
As a result, it said it is currently considering plans to return GBP15 million to GBP20 million to its shareholders and said it would update on these plans when it publishes its full-year results in February.
Microgen shares were up 1.2% to 123.00 pence on Friday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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