Business
Pre-close Statement and Trading Update
Pre-close Statement and Trading Update.
About this update from Software Circle Plc
[{"type":"text","content":"\n\nPrior to publication, the information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the UK Market Abuse Regulation. With the publication of this announcement, this information is now considered to be in the public domain.\n \n30 April 2024\n \nSoftware Circle plc\n(\"Software Circle\" or \"the Company\" or the \"Group\")\n \nPre-close statement and Trading Update\n \nSoftware Circle plc (AIM: SFT) announces the following pre-close statement and trading update for the year ended 31 March 2024 (\"FY24\").\n \nFinancial highlights\n\n\n\n\n \n\n\nUnaudited\nFY 2024\n\n\n \nFY 2023\n\n\n\n\nContinuing operations\nOperating Units\n\n\n6\n\n\n5\n\n\n\n\nRevenue\n\n\n£16.1m\n\n\n£11.7m\n\n\n\n\nOperating EBITDA1\n\n\n£2.8m\n\n\n£1.3m\n\n\n\n\nCentral Costs2\n\n\n£(1.1)m\n\n\n£(0.9)m\n\n\n\n\nAdj EBITDA3\n\n\n£1.7m\n\n\n£0.4m\n\n\n\n\nExceptional Items\n\n\n£(2.4)m\n\n\n£(0.8)m\n\n\n\n\nCash and Cash Equivalents\n\n\n£15.8m\n\n\n£2.0m\n\n\n\n\nNet Cash / (Debt)\n\n\n£7.2m\n\n\n£(16.7)m\n\n\n\n\n\n\n\n\n\n\n \n1. EBITDA of operating units before central costs, exceptional items, excluding impact of R&D capitalisation.\n2. Central costs include our Executive and Non-Executive teams, other central salaries, audit fees, other advisor fees, bond fees, AGM costs, excludes non-recurring transaction costs and one-off bonuses related to M&A.\n3. Operating EBITDA less Central Costs.\n \nIt has been another year of progress and growth despite some unpleasant headwinds from our discontinued operations that are now firmly in our rear-view mirror.\n \nThis has not shifted our focus away from driving forward with the strategy to become a serial acquirer of vertical market software businesses. Neither should it mask the underlying strength and improvements in our continuing operations.\n \nSince releasing our half year results on 27 November 2023, we have continued to develop the culture and framework that allows our business units to grow their earning power, providing support and adding value where needed, whilst maintaining their inherent entrepreneurial spirit.\n \nHaving added ARC Technology (\"ARC\"), o...