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AGM Trading Update

16th Apr 2012 07:00

RNS Number : 3525B
Sagentia Group PLC
16 April 2012
 



 

 

16 April 2012

 

Sagentia Group plc

 

("Sagentia" or the "Group")

 

AGM Trading Update

 

Sagentia Group plc (AIM:SAG), the international technology company which provides outsourced R&D consultancy services, provides the following trading update ahead of the Company's Annual General Meeting this morning.

 

The Group's preliminary results for 2011 were released on 5 March 2012 in which the Group reported that satisfactory progress had been made in consolidating the turnaround achieved in 2010, but that the Group had experienced some effects from the deterioration in the macro-economic environment in the second half of the year.

 

Since the start of the current year the Group has seen some early signs of an improvement in the general economic situation and renewed interest from the Industrial sector in particular. Unfortunately, a large project with a North American start-up in the Medical sector has been suspended which will result in Group revenue in the first half of 2012 being lower than the revenue reported in the second half of 2011, despite the underlying business continuing to grow. Actions have been taken to mitigate this event and these have been effective in enhancing operating margins. As a result for the full year, while revenue will be lower than last year, profit is anticipated to be in line with the Board's expectations.

 

With a strong balance sheet the Board continues to evaluate potential merger and acquisition opportunities, although remains prudent in this process.

 

- Ends -

 

For further information:

Sagentia Group plc

Martyn Ratcliffe, Chairman

Brent Hudson, Chief Executive

Tel: +44 (0) 1223 875 200

Neil Elton, Finance Director

www.sagentia.com

 

Numis Securities Limited

Nominated Adviser: Oliver Cardigan / Simon Willis

Corporate Broking: James Serjeant

Tel: +44 (0) 20 7260 1000

 

Media enquiries:

Abchurch

Henry Harrison-Topham / Jamie Hooper

Tel: +44 (0) 20 7398 7702

[email protected]

www.abchurch-group.com

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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