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Castleton Technology PLC   -  CTP   

Trading Update and Notice of Interim Results

Released 07:00 09-Oct-2017

RNS Number : 0010T
Castleton Technology PLC
09 October 2017
 

9 October 2017

Castleton Technology PLC

("Castleton", the "Group" or the "Company")

Trading Update and Notice of Interim Results

Castleton Technology plc (AIM: CTP), the software and managed services provider to the public and not-for-profit sectors, is pleased to provide the following update on trading for the six-month period to 30 September 2017.

The Company is pleased to announce that revenue and profitability for the six-month period to 30 September 2017 have grown organically by c. 10% and support a full year performance in line with market expectations.

Strong operating cash generation in the period has facilitated a continued reduction in net debt, which has decreased from £9.4m as at 31 March 2017 to £7.9m as at 30 September 2017.

The Group expects to announce its results for the six-month period to 30 September 2017 on 7 November 2017.

David Payne, Chairman of Castleton, commented:

"I am pleased with the progress Castleton has made in the period and as such, the Group remains on course to meet expectations for the full year.  Our financial performance, along with a number of significant milestones previously reported to the market, including the delivery of the integrated product suite, is particularly pleasing. This demonstrates the capability of the Group to deliver on its strategy and increase our share in our chosen markets. The Board remains very confident about Castleton's future prospects."

Enquiries:

Castleton Technology plc

Dean Dickinson, Chief Executive Officer

Haywood Chapman, Chief Financial Officer

 

Tel. +44 (0)845 241 0220

 

finnCap

Jonny Franklin-Adams / Simon Hicks

 

Tel. +44 (0)20 7220 0500

 

 

MXC Capital Markets LLP

Marc Young / Charlotte Stranner

 

Tel. +44(0)20 7965 1849

 

Alma PR
Rebecca Sanders-Hewett

Helena Bogle

Josh Royston

Tel. +44(0) 203 865 9668

 

About Castleton Technology plc

Castleton Technology plc is a leading supplier of complementary software and managed services to the public and not-for-profit sectors. The acquisitions of Montal, Documotive, Opus, Keylogic, Brixx, Impact Applications and Kypera bring together an exceptional suite of solutions, providing the foundation for this platform. Castleton works in partnership with its customers and resellers to help drive efficiencies whilst improving controls and customer service. www.castletonplc.com

 

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Trading Update and Notice of Interim Results - RNS