Grafico Azioni System1 (LSE:SYS1)
Da Lug 2019 a Lug 2020
RNS Number : 6923P
System1 Group PLC
14 October 2019
Press Release 14 October 2019
System1 Group PLC (AIM: SYS1)
("the Company" or "System1")
System1, the marketing services group, issues the following update on trading for the six months to end-September 2019. The Company will announce its interim results on 7 November 2019.
The first half of the current year (H1) saw Gross Profit (our main top-line performance indicator) growing modestly. Gross Profit for the half-year is expected to be some 7% above the comparable 2018/19 period (4% at constant exchange rates).
Operating Costs were well controlled, benefiting from our ongoing drive to increase efficiency across the business. Excluding investment in AdRatings (the Company's database of advert ratings), Operating Cost growth was some 3%.
Normalised H1 Pre-tax profits, excluding AdRatings and share based payments, are expected to be some GBP2.4m, approximately 24% higher than in the comparable period.
A total of GBP1.2m, modestly below budget, was invested in further expanding our AdRatings asset during H1. System1's financial position remains strong. Despite continued relatively high levels of investment and the payment of the 2018/19 final dividend during H1, the period-end cash balance was GBP4.1m, compared with a cash balance of GBP4.3m at the end of March 2019. System1 has no debt.
As well as ongoing investment in AdRatings, the Company continues to invest in its IT infrastructure and data capability. System1 also strengthened its senior management team during the first half. Key new hires include a Chief Commercial Officer (Karen Wolfe, formerly at Nielsen) and a Chief Marketing Officer (Jon Evans, formerly at Lucozade Ribena Suntory), both of whom joined System1 towards the end of the half year.
The Company can be found at www.system1group.com.
For further information, please contact:
System1 Group PLC Tel: +44 (0)20 7043
John Kearon, Chief Executive Officer
James Geddes, Chief Financial Officer
Canaccord Genuity Limited Tel: +44 (0)20 7523
Simon Bridges/Andrew Potts
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
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(END) Dow Jones Newswires
October 14, 2019 02:00 ET (06:00 GMT)