11th Jan 2019 09:15
LONDON (Alliance News) - Software company Sopheon PLC said Friday it expects 2018 revenue to be in line with market expectations and profit to outperform.
In October, Sopehon reported its third quarter performance had taken revenue visibility to over USD30 million in 2018. This resulted in an upgrade to expectations from analysts.
Since then, Sopheon explained it had generated "continued commercial delivery" during the final few months of the year.
As a result of this continued progress, the firm now expects revenue for 2018 to be "comfortably in line" with the currently upgraded market expectations. The firm added that "early indications" suggested that earnings before interest, taxes, depreciation and amortisation and pretax profit levels would also show "stronger outperformance" as well.
Shares in Sopheon were 5.4% lower at 1,262.50 pence on Friday.
Further information is due in a trading update at the end of January, with full year results planned for release on March 21.
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