System1 Group PLC Trading Update

Data : 14/10/2019 @ 08:00
Fonte : UK Regulatory (RNS & others)
Titolo : System1 Group Plc (SYS1)
Quotazione : 202.0  0.0 (0.00%) @ 08:34
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System1 Group PLC Trading Update

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RNS Number : 6923P

System1 Group PLC

14 October 2019

 
 Press Release   14 October 2019 
 

System1 Group PLC (AIM: SYS1)

("the Company" or "System1")

Trading Update

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 
                                                        1000 
 John Kearon, Chief Executive Officer 
 James Geddes, Chief Financial Officer 
 Canaccord Genuity Limited                 Tel: +44 (0)20 7523 
                                                          8000 
 Simon Bridges/Andrew Potts 
 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

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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(END) Dow Jones Newswires

October 14, 2019 02:00 ET (06:00 GMT)

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