i-nexus Global PLC Trading Update (7728F)
31 October 2018 - 6:00PM
UK Regulatory
TIDMINX
RNS Number : 7728F
i-nexus Global PLC
31 October 2018
31 October 2018
i-nexus Global plc
("i-nexus", the "Company" or the "Group")
Trading Update
i-nexus Global plc (AIM: INX), a provider of cloud-based
Strategy Execution software solutions designed for the Global 5000,
today provides the following trading update for the year ended 30
September 2018.
The Board expects to report a 15% increase in total recognised
revenue for the year at approximately GBP4.7 million (FY17: GBP4.1
million), in line with management expectations. Period end net cash
is expected to be GBP6.2 million, following the successful IPO in
June 2018, which raised GBP8.9 million after expenses. In line with
its stated strategy i-nexus has made considerable progress
investing the funds raised to support its growth strategy and
capitalise on the Company's significant market opportunity in
Strategy Execution software, particularly in Hoshin-based
solutions. A number of key hires have been made, particularly in
sales and marketing, both in the UK and the USA.
Despite some weaker than expected pipeline conversion in Q3 of
FY18, target Monthly Recurring Revenue ("MRR") returned towards
more normalised levels in Q4 and the Company closed FY18 at an MRR
run rate of GBP341k. The current positive market dynamics,
evidenced by a strong and growing new business pipeline are
expected to generate good growth in revenue in FY19. In addition,
the strategic internal investments made since IPO are expected to
feed through in the second half of the current year, thereby
delivering operational benefits for the Company.
The Company expects to announce results for the year ended 30
September 2018 in early December 2018.
Simon Crowther, Chief Executive, of i-nexus Global plc,
commented:
"We were delighted to achieve a successful IPO and welcome new
shareholders to the Group in the year, against a solid financial
performance for FY18. The Group is now well-funded to meet its
objectives and since our admission to AIM in June we have added
significantly to our resources, in line with our growth strategy.
As a result, we are seeing a considerable improvement in our new
business pipeline. As these new investments bed in we expect to see
growth begin to accelerate in the second half of FY19. With a
blue-chip customer base, proven enterprise-grade Strategy Execution
software and enlarged sales and marketing team, we are confident in
the long-term prospects for i-nexus."
For further information please contact:
i-nexus Global plc Via: Alma PR
Simon Crowther, CEO
Alyson Levett, CFO
N+1 Singer (Nominated Adviser and Broker) Tel: +44 (0)207 496 3000
Shaun Dobson / Lauren Kettle (Corporate
Finance)
Tom Salvesen (Corporate Broking)
Alma PR Tel: +44 (0)208 004 4218
Caroline Forde / Josh Royston / Robyn
Fisher
About i-nexus Group plc
i-nexus supports some of the largest global companies in
running, improving and changing their businesses through the
provision of a scalable, enterprise-grade, cloud-based Continuous
Improvement ("CI") and Strategy Execution ("SE") software platform.
The platform is in use at global blue-chip businesses,
predominantly based across the US and Europe, helping customers
execute key strategic goals throughout all levels and divisions of
their organisations.
The Group's software supports Hoshin Kanri, a strategy
development methodology first introduced in the 1960s in Japan and
born out of lean, six sigma and operational improvement theory.
Hoshin Kanri (directly translated as "direction execution") is a
systematic planning, implementation and review methodology which,
when implemented, aims to ensure that the strategic goals of a
company are properly communicated to all employees and that they
drive progress and action at every level of the business.
i-nexus is headquartered in Coventry, UK and employs over 60
staff.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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