Trading Update
Sopheon plc, the international provider of software and services for complete Enterprise Innovation Management solutions, issues the following trading update for the six months to 30 June 2018.
In our Annual General Meeting announcement issued on 7 June, we noted that the positive momentum from 2017 had continued into the current year and that full year 2018 revenue visibility had risen to $23.5m compared to $17.5m the year before, an all time high. We are delighted to report that following a good close to June, revenue visibility now stands at $26.5m.
As we start the second half of the year, sales activity remains high and the board remains confident that the Company is trading comfortably in line with expectations.
With this progress, we expect revenue, EBITDA and profit before tax for the first half of 2018 to be significantly ahead of prior year performance for the corresponding period.
Net cash at 30 June 2018 stood at $15.5m, compared to $9.5m at 31 December 2017, and $6.6m at 30 June 2017.
Further details of the results for the six months to 30 June 2018 will be provided in our interim financial report, scheduled for release on 23 August 2018. Expectations noted above are subject to completion of the period-end financial close and auditor review processes.
For Further Information Contact:
Barry Mence, Chairman
Arif Karimjee, CFO
Sopheon plc
Bertus S.