RedstoneConnect PLC Trading Statement and Notice of Results (7091Y)
07 March 2017 - 6:11PM
UK Regulatory
TIDMREDS
RNS Number : 7091Y
RedstoneConnect PLC
07 March 2017
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014. Upon the publication
of this announcement, this inside information is now considered to
be in the public domain.
7 March 2017
RedstoneConnect plc
("RedstoneConnect" or the "Company")
Trading Statement and
Notice of Results
RedstoneConnect (AIM: REDS), a leading provider of technology
and services for smart buildings and commercial spaces, is pleased
to announce its trading update ahead of reporting its final results
for the year ended 31 January 2017.
Highlights for the year
The Board is delighted with the performance of the Group in the
year with trading being materially ahead of market
expectations:
-- Adjusted EBITDA* is expected to be approximately GBP2 million
-- Reported Profit before tax** is expected to be approximately GBP1.5 million
-- Achieved on revenues of approximately GBP41.5 million,
demonstrating the successful implementation of the strategy to
focus on higher quality, higher margin business
-- Good margin improvement across the business with strong
performance being seen across all three business streams
-- Positive cash at year-end of GBP3.2 million
-- Emergence of OneSpace(TM) as an innovative software solution
enabling organisations to better understand, manage and control
their workspace utilisation
o Installation of OneSpace(TM) at UBS' London offices and
three-year master services agreement providing the opportunity for
global deployment
o Successful extension of OneSpace(TM) to UBM's New York
offices, following successful deployment in its European head
office in London
-- Development and renewal of large managed services contracts
for between three and five years with large blue chip clients
-- Strong order book underpinning medium term growth expectations
The actual results are still subject to final audit and
RedstoneConnect will publish results for the year ended 31 January
2017 on Tuesday, 25 April 2017. There will be a presentation to
analysts on the morning of results. For further information or to
register attendance, please contact Vigo Communications via email
on reds@vigocomms.com.
*Results for the period from continuing operations before net
finance costs, depreciation, amortisation, integration and
transactional items, impairment charges and share based payment
charge.
**reported profit before tax includes; integration and
transactional items, share based payment charge and profits in the
period from discontinued operations.
Mark Braund, Chief Executive Officer of RedstoneConnect,
commented:
"We are delighted with RedstoneConnect's progress throughout the
past year as we have continued to capitalise on our strong market
position and have achieved a number of key milestones in our
journey towards developing a more dynamic, robust and predictable
business model.
"As innovation in smart buildings gathers pace, our software,
managed services and systems integration businesses are all
contributing to position RedstoneConnect as a market leader; and
the Company's recent large-scale contract wins are testament to
this. In particular, the installation of our novel in-building
cellular solution at the London office campus of one of the world's
leading technology firms, is an example of the high quality work we
are winning with major global organisations.
"Our sales pipeline appears strong and, combined with our solid
recurring revenue stream, provides support and confidence in the
outlook for the Company."
Enquiries:
RedstoneConnect Plc via Vigo Communications
Mark Braund (CEO)
Spencer Dredge (CFO)
Cantor Fitzgerald Europe (Nominated
Adviser & Joint Broker)
Marc Milmo/Phil Davies/Catherine +44 (0)20 7894
Leftley/Callum Butterfield 7000
Whitman Howard Limited (Joint Broker) +44 (0)207 659
Nick Lovering 1234
Vigo Communications (Financial
Public Relations)
Jeremy Garcia / Ben Simons / Antonia
Pollock +44 (0)20 7830
reds@vigocomms.com 9700
About RedstoneConnect
RedstoneConnect is focused on technologies that make real estate
more efficient and businesses more effective. Its businesses,
Redstone, Connect IB and Commensus, provide the infrastructure
capabilities and the software applications to deliver smart
building and smart workspace solutions for commercial businesses,
public sector organisations, real estate owners and managers. Visit
our website at www.redstoneconnectplc.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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