i-nexus Global PLC Trading Update (9492G)
29 Luglio 2019 - 8:01AM
UK Regulatory
TIDMINX
RNS Number : 9492G
i-nexus Global PLC
29 July 2019
29 July 2019
i-nexus Global plc
("i-nexus", the "Company" or the "Group")
Trading Update
i-nexus Global plc (AIM: INX), a leading provider of cloud-based
Strategy Execution software solutions designed for the Global 5000,
provides an update on trading for the year ending 30 September
2019.
At the time of the Interim Results, released in May, the Board
anticipated an acceleration in sales in the second half of the
year. While the Group has secured a number of new sales in Q3 and
the pipeline of opportunities is large and growing, these have not
converted at the rate required to meet the Board's revenue
expectations for the financial year as a whole.
Due to careful planning around investment, the EBITDA for the
year is expected to be in line with current expectations; however
both Total Recognised Revenue and closing Cash balances will be
below expectations. As at 30(th) June 2019, the Company had cash of
GBP3.1m and the Board is comfortable that, with a continued focus
on costs, the business retains sufficient funding to execute on its
growth strategy.
Whilst the slower than anticipated rate of conversion is
disappointing, the Board remains confident that the strategy being
pursued by the Group is right to support the acceleration of growth
anticipated in future periods. The increased size and experience of
the sales team is driving a growing pipeline of opportunities and
improving the proportion of upsell opportunities to existing
customers. In addition, churn rates in Q3 have remained at the
lower levels seen in Q2, as anticipated, as the investments in the
Group's customer success team continue to bear fruit.
The Company will issue a Pre-close Statement for the year ended
30 September 2019 in the second half of October 2019.
For further information please contact:
i-nexus Global plc Via: Alma PR
Simon Crowther, CEO
Alyson Levett, CFO
N+1 Singer (Nominated Adviser and Broker) Tel: +44 (0)207 496 3000
Shaun Dobson / Lauren Kettle (Corporate
Finance)
Tom Salvesen (Corporate Broking)
Alma PR Tel: +44 (0)203 405 0212
Caroline Forde / Josh Royston / Jessica
Joynson
About i-nexus Group plc
i-nexus supports some of the largest global companies in
running, improving and changing their businesses through the
provision of a scalable, enterprise-grade, cloud-based Continuous
Improvement ("CI") and Strategy Execution ("SE") software platform.
The platform is in use at global blue-chip businesses,
predominantly based across the US and Europe, helping customers
execute key strategic goals throughout all levels and divisions of
their organisations.
The Group's software supports Hoshin Kanri, a strategy
development methodology first introduced in the 1960s in Japan and
born out of lean, six sigma and operational improvement theory.
Hoshin Kanri (directly translated as "direction execution") is a
systematic planning, implementation and review methodology which,
when implemented, aims to ensure that the strategic goals of a
company are properly communicated to all employees and that they
drive progress and action at every level of the business.
i-nexus is headquartered in Coventry, UK with a sales office in
New York, and employs over 90 staff.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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