, the supplier of Information Management software, posted a strong trading update on Tuesday.
It told investors that it expects results for the year to 30 April 2019 to be “marginally ahead of market expectations” for its 10th consecutive year of revenue and EBITDA growth.
It expects to report revenue up 29% at approximately £46.7million, (FY2018: £36.1million) and adjusted EBITDA up 30% at approximately £14.3 million (FY2018: £11.0 million).
The company provides software and services to organisations operating within highly regulated industries such as aviation, banking and finance and life science.
Shares in Ideagen were trading 4.3% higher at 133.5p each following the update
Ben Dorks, Chief Executive commented: "We are pleased to report that the Group has continued to perform well in delivering another year of quality earnings growth underpinned by strong cash generation.”
“The Group is successfully transitioning to a SaaS business model whilst ensuring we continue to grow revenues both organically and through acquisitions.”
Ideagen raised £19.4m in September 2018 via a share placing and acquired InspectionXpert, Morgan Kai, Scannell Solutions and IPI.
It told investors that organic revenue growth was around 8%, and that the Annual Recurring Revenue book was up 44% at £36.4 million.
Ben Dorks said: “Our growing base of recurring revenues and a strong pipeline of business opportunities from new logos and our growing customer base provides the Board with confidence for the current year and beyond.”
Some of its customers include global brands such as British Airways, BAE, US Navy, Bank of New York, Heineken, Johnson Matthey, and many others.
Follow News & Updates from Ideagen here:
Tlou's Managing Director, Mr Tony Gilby said “The Company will now progress with additional work on the ground to deliver a Gas-to-Power solution that can bring significant benefits to the country and to our shareholders. I look forward to updating the market as we continue to develop the project."
Tone Goh, Executive Chairman of GST, commented: "The Company is delighted to have signed this LOI with SIAM. SIAM are one of Thailand's leading business groups and we look forward to working with them to progress this planned data centre project.”
Five financial stories, trending today in a 60 second podcast, including: Google has barred phone maker Huawei off from receiving some updates to the Android operating system, dealing a blow to the Chinese firm and their new smartphones will also lose access to popular Google apps. The move comes after the Trump administration added Huawei to a list of companies that American firms cannot trade with unless they have a licence.
On today's podcast: Glen Goodman author of, "The Crypto Trader", talks about the recent rise, fall and rise again of Bitcoin. Russ Mould covers Stock Spirits, Nichols & Vodafone. Alan Green talks about: Cadence Minerals, RA International & BigDish.
SP Angel research note on commodities and miners, featuring: Anglo Asian Mining* (AAZ LN) BUY – 126p – Earnings update African Battery Metals* (ABM LN) – Kisinka copper-cobalt project field programme completed BlueRock Diamonds* (BRD LN) – Funding raised to implement new mine plan Pan African Resources (PAF LN) – Q3 results on track to meet guidance of 170,000oz of gold production