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AGM Trading Update

16th May 2011 07:00

RNS Number : 5894G
Sagentia Group PLC
16 May 2011
 



 

 

16 May 2011

 

Sagentia Group plc

 

("Sagentia" or the "Group")

 

AGM Trading Update

 

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

 

The Group's preliminary results for 2010 were released on 28 February 2011 when a strong turnaround in operating performance was reported. Since the start of the current year, the Group has continued to perform well, with profit at the end of April materially ahead of the Board's expectations. The Medical Sector has performed particularly strongly in the first part of the year. At 30 April 2011, the Group's gross cash was £17.2 million with net cash of £9.5 million.

 

While the market characteristics provide limited forward visibility, the actions taken in 2010 have significantly improved the Group's controllable risk profile. As a result, and combined with the strong start to the year, the Board is cautiously optimistic for the year ahead.

 

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

 

Arbuthnot Securities

Nick Tulloch / Paul Gillam

Tel: +44 (0) 20 7012 2000

www.arbuthnot.co.uk

 

Media enquiries:

Abchurch

Henry Harrison-Topham / Claire Dickinson

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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