Business
Final Results 2007
Final Results 2007.
About this update from Ingenta Plc
[{"type":"text","content":"\n Publishing Technology PLC\n01 April 2008\n\n\n1 April 2008\n\n\"Not for release, distribution or publication, in whole or in part, in or into\nthe United States of America, Canada, Ireland, Japan, South Africa or \nAustralia.\"\n\n\nPublishing Technology plc announces preliminary results for 2007\n\nPublishing Technology plc is pleased to announce its preliminary results for\n2007. Publishing Technology delivers information technology tools and services\nto publishers, undertaking a broad range of activities to cater for the\nwide-ranging requirements of publishers and information providers. The group\nenjoys a strong position for its widely-employed print and online publishing\nplatforms.\n\nOn 27 February 2007, Vista International Limited reversed into Ingenta plc and\nIngenta plc changed its name to Publishing Technology plc. Publishing Technology\nplc is listed on the Alternative Investment Market of the London Stock Exchange\n(ticker: PTO).\n\nAs a result of the reverse acquisition, this reporting period reflects the\ncontinuing operations of Vista International Limited, and therefore, as the\nVista group year end was 30 June, this report covers 18 months to 31 December\n2007 with 10 months trading of the former Ingenta group businesses incorporated\nfrom the date of the reverse acquisition. As a result, this announcement does\nnot show comparative figures as comparative figures would only be for 12 months\nof the Vista business.\n\n\nHighlights:\n \n• Revenue in the period of £18.4m\n\n• Gross profit of £6.2m\n\n• EBITDA profit (earnings before interest, tax, depreciation and\n amortisation) of £0.2m\n\n• Pre-Tax loss of £1.7m after adjusting, inter alia, for the\n amortisation of intangibles of £0.8m\n\n• Ingenta, Publishers Communication Group and Vista Europe operations\n performed strongly with growth post-acquisition\n\n• Annualised synergy cost reductions of over £1.5m\n\n• Positive sales synergy with Vista operations successfully implementing\n and selling Ingenta products\n\n\nOutlook:\n\nThe merger of the businesses in early 2007 presented a number of integration and\nconsolidation challenges throughout the period. However, the combined objectives\nof increasing revenue through cross-selling and cost savings from synergies and\nduplicated functions began to come to fruition in the last quart...