Panoply Holdings PLC (The) Trading update (4355Y)
09 Maggio 2019 - 08:00AM
UK Regulatory
TIDMTPX
RNS Number : 4355Y
Panoply Holdings PLC (The)
09 May 2019
9 May 2019
The Panoply Holdings PLC
("The Panoply", or the "Group")
Trading update
The Panoply, a digitally native technology services company,
today announces a trading update for the year ended 31 March 2019
("FY19").
The Board is pleased to announce that it expects to report
revenue and EBITDA performance in line with expectations when it
publishes its maiden full year results, following its successful
IPO and Admission to trading on AIM in December 2018. This
performance has been driven by an increase in customer numbers
across its constituent companies and particularly from work in the
government and not-for-profit sectors. At the year end the Group
had net cash* of GBP4.9 million.
Since the Group's IPO, a further three acquisitions have been
concluded and the relevant integration of those businesses largely
completed. Investments have also been made into new business units
which complement and expand the Group's existing services and
expertise, and which can generate future revenue streams, including
TPX human+ which was launched at the end of February.
Neal Gandhi, CEO of The Panoply, stated:
"I'm delighted with the progress that we have made in the year.
The IPO was clearly the most significant milestone as it brought
together four outstanding companies, ideally placed to manage the
digital transformation needs of today's world, and provided us with
the platform to attract other, like minded visionary companies. It
has been particularly pleasing to witness the high levels of
collaboration across the business units as they each strive to
maximise opportunities for the wider Group.
"With a healthy pipeline of potential acquisition opportunities
and as our investment opportunities develop further, we look
forward to the future with confidence."
* net cash is cash at bank (GBP5.6m) less consideration payments
to be made in connection with acquisitions made by the Group
(GBP700k)
Enquiries:
The Panoply Holdings
Neal Gandhi (CEO) Via Alma PR
Oliver Rigby (CFO)
Stifel Nicolaus Europe Limited +44 (0)207 710 7600
(Nomad and Broker)
Fred Walsh
Alex Price
Neil Shah
Luisa Orsini Baroni
Alma PR panoply@almapr.co.uk
(Financial PR) +44(0)203 405 0206
Josh Royston 07780 901979
Susie Hudson
About The Panoply
The Panoply is a digitally native technology services company,
built to service clients' digital transformation needs. Founded in
2016, with the aim of identifying and acquiring best-of-breed
specialist information technology and innovation consulting
businesses across Europe, the Group collaborates with its clients
to deliver the technology outcomes they're looking for at the pace
that they expect and demand.
www.thepanoply.com
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END
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