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Publishing Technology plc Reports Interim Results
LONDON, August 21 /PRNewswire/ --
- Improved Profitability and Performance Across the Group
Publishing Technology plc (LSE: PTO), the leading provider of
online systems, management software and consulting services to trade and
academic, journal and book publishers, has today announced its unaudited
interim results for the six months to June 30, 2008.
Growth
- Revenues up 10% to GBP7.3m (2007:GBP6.6m)
- PBT (before amortisation) of GBP0.1m, comparing favourably
to losses in prior periods.
- Half year EBITDA GBP0.3m
- Trading cash positive
Integration strategy bearing fruit
- Significant new business wins
- Recurring revenues account for over 65% of total revenue
- Sales of new products have exceeded forecast
Positive outlook
- Business units performing in line with expectations
- Improving cash and balance sheet
- Strong organic growth - no slow down in market activity
- Declining trend of indebtedness
George Lossius, Chief Executive, commented:
"This year's interims reflect continued strong progress across
the group's business divisions, which all performed well over the first half
and I am very pleased to be able to report improved group profitability and a
positive profit before tax and amortisation of intangibles.
"The momentum behind our 2007 merger is gaining pace, and the
breadth of solutions that we can provide puts us in a good position to
benefit as our target publishing and information markets grow and expand.
These possibilities are underlined by several significant new service and
product contracts signed or completed over the first half of this year. These
included a deal signed by the PCG division with BioOne, a leading US based
aggregator of bioscience research journals, which should add GBP0.5m to 2009
revenues, and the launch of the World Bank's e-library."
Notes to Editors:
The Publishing Technology group enables publishers to focus on
their core competences by outsourcing technology requirements to a single,
trusted partner. It provides software and services for the publishing
industry. Clients include leading book and journal publishers such as,
Hachette, Random House, Penguin and Reed Elsevier and top corporate and
academic research library clients, such as Columbia University Library, and
Glaxo SmithKline's research library, and a number of not for profit
institutions, such as the World Bank, the IMF, OECD and UNICEF.
