Business
Trading Update and board changes - Replacement
Trading Update and board changes - Replacement.
About this update from Software Circle Plc
[{"type":"text","content":"\n \nRNS Number : 2520F Grafenia plc 16 May 2017 \n\nThe following amendment has been made to the announcement titled \"Pre Close Trading Update, Board Changes And Notice Of Results\" which was released on 10 April 2017 at 7.00 a.m. under RNS 9949B:\nThe announcement stated that: \"The Board expects full year results to be in line with revised market expectations for revenue, EBITDA and net cash.\" The text should have been as follows: \"The Board expects full year results to be in line with revised market expectations for revenue and EBITDA and net cash at bank to be £0.52 million.\"\nAll other details remain unchanged. The full amended announcement is shown below. \n \nThis announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.\nGRAFENIA PLC\n(THE 'COMPANY' OR THE 'GROUP')\nPRE CLOSE TRADING UPDATE, BOARD CHANGES AND NOTICE OF RESULTS\n \nTrading\nGrafenia plc (AIM: GRA) announces that, since our previous update released on 21 February 2017, trading conditions have been mixed. Transactional print revenues in February ended behind the same period last year. However, revenues from print in March were strong, significantly ahead of both our internal budget and the same period last year. \nThe Board expects full year results to be in line with revised market expectations for revenue and EBITDA and net cash at bank to be £0.52 million. This year the effect of revising the useful economic life of software & capitalised development from five to a more prudent three years is expected to increase amortization by £150k for the period. Consequently, whilst we expect EBITDA to be in line with market expectations, we expect EBIT to be below them.\nWe are delighted to report that we have more than doubled the number of our Nettl studios to 108 in the period, which is more than expected. Nettl partners pay a monthly subscription of typically £399 to use our training, software and marketing to sell websites, ecommerce, display and printing. Our sales activity continues to attract new Nettl partners and we expect to further significantly scale the network in the coming financial year, both in the UK and in other countries. We have also continued to attract new printing.com partners and have a steady pipeline of potent...