21st Jan 2015 09:57
LONDON (Alliance News) - Ubisense Group PLC said Wednesday that it expects its adjusted earnings before interest, tax, depreciation and amortisation for 2014 to be in line with its expectations, despite revenues in its second half falling short.
The software and services company said that, whilst revenue in the second half had missed its expectations due to two contracts slipping in to the first half of 2015, its revenue mix shifted towards a greater proportion of higher margin sales.
The company incurred restructuring and integration costs of GBP700,000 during the period as it cut headcount in its services division and acquired Geoplan Interworks KK. Ubisense will post a non-cash impairment of GBP1.2 million in its full year results, relating to non-core service division assets.
Ubisense said that it expects to fund its organic business growth through cash flow and bank facilities during 2015.
Shares in Ubisense are untraded Wednesday. It last closed at 120.00 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Ubisense Group