Business
Publishing Technology plc Reports Interim Results
Publishing Technology plc Reports Interim Results.
About this update from Ingenta Plc
[{"type":"text","content":"\n \n\n\n\nLONDON, August 21 /PRNewswire/ --\n\n- Improved Profitability and Performance Across the Group\n\n Publishing Technology plc (LSE: PTO), the leading provider of\nonline systems, management software and consulting services to trade and\nacademic, journal and book publishers, has today announced its unaudited\ninterim results for the six months to June 30, 2008.\n\n\n\nGrowth\n\n \n - Revenues up 10% to GBP7.3m (2007:GBP6.6m)\n\n - PBT (before amortisation) of GBP0.1m, comparing favourably\n to losses in prior periods.\n\n - Half year EBITDA GBP0.3m\n\n - Trading cash positive\n\n Integration strategy bearing fruit\n\n - Significant new business wins\n\n - Recurring revenues account for over 65% of total revenue\n\n - Sales of new products have exceeded forecast\n\n Positive outlook\n\n - Business units performing in line with expectations\n\n - Improving cash and balance sheet\n\n - Strong organic growth - no slow down in market activity\n\n - Declining trend of indebtedness\n\n\n\n\n\nGeorge Lossius, Chief Executive, commented:\n\n \"This year's interims reflect continued strong progress across\nthe group's business divisions, which all performed well over the first half\nand I am very pleased to be able to report improved group profitability and a\npositive profit before tax and amortisation of intangibles.\n\n\n\n \"The momentum behind our 2007 merger is gaining pace, and the\nbreadth of solutions that we can provide puts us in a good position to\nbenefit as our target publishing and information markets grow and expand.\nThese possibilities are underlined by several significant new service and\nproduct contracts signed or completed over the first half of this year. These\nincluded a deal signed by the PCG division with BioOne, a leading US based\naggregator of bioscience research journals, which should add GBP0.5m to 2009\nrevenues, and the launch of the World Bank's e-library.\"\n\n\n\nNotes to Editors:\n\n The Publishing Technology group enables publishers to focus on\ntheir core competences by outsourcing technology requirements to a single,\ntrusted partner. It provides software and services for the publishing\nindustry. Clients include leading book and journal publishers such as,\nHachette, Random House, Penguin and Reed Elsevier and top corporate and\nacademic research library clients, such as Columbia Univers...