Business
Trading Update and Significant Contract Wins
Trading Update and Significant Contract Wins.
About this update from Tpximpact Holdings Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7076B\n Panoply Holdings PLC (The) \n 12 October 2020\n \n \n \n \n 12 October 2020\n \n \n The Panoply Holdings PLC\n \n \n (\"The Panoply\", or the \"Group\")\n \n \n \n \n \n Pre-close trading update and significant contract wins \n \n \n \n \n \n The Panoply Holdings PLC, the technology-enabled services group focused on digital transformation, provides an update on its trading for the six months ended 30 September 2020 (\"H1 2021\").\n \n \n \n \n \n Highlights:\n \n \n \n \n \n \n ● \n \n \n \n \n A robust performance from the Group, with revenues expected for the period ended 30 September 2020 of not less than £\n 20.5m (H1 2020: £13.4m), up 18% on a like-for-like(1) basis (H1 2020 like-for-like: £17.4m)\n \n \n \n \n \n \n ● \n \n \n \n \n Adjusted EBITDA(2) expected for the period ended 30 September 2020 of not less than £2.4m (H1 2020: £0.9m), up not less than 25% on a like-for-like(1) basis.\n \n \n \n \n \n \n ● \n \n \n \n \n Strong balance sheet with £\n 6.0m(3) cash as at 30 September 2020 and net debt of £1.0m after acquisition consideration of £3.8m paid out in the period\n \n \n \n \n \n \n ● \n \n \n \n \n Two acquisitions completed, adding to the Group's depth of capabilities in hyperscale cloud projects, and expanding the Group's reach in the Healthcare sector\n \n \n \n \n \n \n ● \n \n \n \n \n £25m in total contract wins in H1 2021, which are included in the existing new business pipeline and underpin FY 2021 guidance\n \n \n \n \n \n \n ● \n \n \n \n \n Sales backlog(4) of £17.5m to 31 March 2021 (2020: £12.8m) with £5.0m of contracts signed post period end\n \n \n \n \n \n \n ● \n \n \n \n \n Intention to initiate a dividend for FY 202\n 1 with an interim dividend to be declared following publication of the interim results\n \n \n \n \n \n \n ● \n \n \n \n \n Confident of delivering 10-15% like-for-like organic revenue growth for the full year with profit growth in excess of revenue growth in line with previously stated commercial vision\n \n \n \n \n \n \n \n \n \n (1) Like-for-like is a non-GAAP/IFRS measure that presents the first half of the prior year being restated to show the unaudited numbers of the existing and acquired businesses consolidated for the same months as in 2021.\n \n \n (2) Adjusted EBITDA is a non-IFRS measure that t...