Business
Publishing Technology plc Announces Preliminary...
Publishing Technology plc Announces Preliminary....
About this update from Ingenta Plc
[{"type":"text","content":"\n \n\n\n\nLONDON, March 23 /PRNewswire/ --\n\n- Significant EBITDA Growth Underlines Strong Trading Performance\n\n Publishing Technology plc (PTO.L), the leading provider of\ninformation technology tools and services to international book and academic\npublishers, is pleased to announce its audited results for the year ended 31\nDecember 2008.\n\n\n\n The company's software is used across the publishing industry\nfor an array of functions, such as royalties' management (including for\nauthors such as JK Rowling) and last year it launched Inspire, the first ever\n'itunes' type software for internet book downloads.\n\n\n\nHighlights\n\n- Group EBITDA of GBP0.9m\n\n- Positive trading cash flow from business units\n\n- High recurring contract renewals and customer increase\n\n- A continuing reduction in overheads;\n\n- Expansion into Germany and Brazil\n\n- Solid platform for further growth in rapidly-changing market\n\n Publishing Technology recorded strong growth in revenues and\nprofits based on a comparison with annualised 2007 results (the actual 2007\nresults covered an 18 month period as a result of the reverse acquisition of\nIngenta plc by Vista International Limited, which created Publishing\nTechnology):\n\n\n\n- Annual revenues were up 7% at GBP15.4 million\n\n- EBITDA was up over GBP1m at GBP0.9m\n\n- Gross profit was up 32.2% at GBP6.1 million\n\n- Adjusted profit before tax was GBP0.6 million\n\n Last year, the Company launched a prototype of IngentaConnect\nMobile, which is intended to be fully operational during Q2/2009, to\ncapitalise on the strengthening trend of mobile technology being used to\ndeliver publisher content.\n\n\n\n Significant progress has been made in delivering new products,\nincluding:\n\n\n\n - The implementation of the Company's proprietary\nInformation Commerce Software (\"ICS\") at the British Medical Journal (\"BMJ\")\n\n\n\n - A new sales, marketing and circulation management contract\nwith US-based BioOne, which will generate revenue for the Company of $1m per\nannum\n\n\n\n - The sale of the Company's first new publisher software for\nContract, Rights and Royalty management\n\n\n\n- Launches of pub2web online portals\n\n In 2009, Publishing Technology has expanded into new markets.\nIn Brazil, the Company represents BioOne, Nature and other publishers, and in\nGermany the Company has fo...