Tungsten Corporation PLC Capital Markets Day and Trading Update (4443O)
09 February 2016 - 6:00PM
UK Regulatory
TIDMTUNG
RNS Number : 4443O
Tungsten Corporation PLC
09 February 2016
TUNGSTEN CORPORATION PLC
CAPITAL MARKETS DAY AND TRADING UPDATE
9 February 2016
Tungsten Corporation plc (LSE: TUNG) ("Tungsten" or the
"Company"), the global electronic invoicing, analytics and
financing company, is hosting a Capital Markets Day at the offices
of Panmure Gordon, One New Change, London EC4M 9AF at 2.00 p.m.
today. Senior management will be presenting on Tungsten's business
and strategy.
Tungsten confirms that trading in the third quarter was in line
with market expectations, and that revenues for the full year to 30
April 2016 are expected to be broadly in line with its previous
guidance. The Company continues to expect EBITDA* loss for the full
year to 30 April 2016, excluding one-off items, of no more than
GBP15 million (GBP19 million including one-off items) and free cash
at the year-end of at least GBP8 million, with the monthly cash
outflow continuing to improve.
The Board is confident that Tungsten is on track to achieve
break-even on an EBITDA basis by the end of FY17 and a positive
EBITDA for the six-months ending 31 October 2017.
A live audio webcast and copies of the presentation as well as a
replay of the event will be available on the Tungsten Corporation
website at:
[https://www.tungsten-network.com/uk/about-tungsten/investor-relations].
Enquiries
Tungsten Corporation plc
Richard Hurwitz, Chief Executive +44 20 7280
Officer 7713
David Williams, Chief Financial +44 20 7280
Officer 7897
Cynthia Alers, Head of Investor +44 20 7280
Relations 7872
Panmure Gordon (Nominated
Advisor)
Fred Walsh/Dugald J. Carlean/Peter +44 20 7886
Steel 2500
Canaccord Genuity Limited
(Broker)
Simon Bridges/Cameron Duncan/Emma +44 20 7523
Gabriel 8000
Neustria Partners
Robert Bailhache/Nick Henderson/Charles +44 20 3021
Gorman 2580
*Earnings before interest, tax, depreciation
and amortisation.
About Tungsten Corporation plc
Tungsten Corporation (LSE: TUNG) aims to be the world's most
trusted business transaction network by using data intelligently to
strengthen the global supply chain.
Tungsten Network is a secure e-invoicing platform that brings
businesses and their suppliers closer together with unique
technology that revolutionises invoice processing, maximises
efficiency and improves cash flow management. The network also
provides users with real-time spend analysis through Tungsten
Analytics, and offers access to Tungsten Early Payment, a form of
alternative finance for businesses.
Tungsten serves 56% of the Fortune 500 and 67% of the FTSE 100.
It enables suppliers to submit tax compliant e-invoices in 47
countries, and last year processed transactions worth over $187bn
for organisations such as Alliance Data, Aviva, Cargill, Deutsche
Lufthansa, General Motors, GlaxoSmithKline, Henkel, IBM, Kellogg's
and the US Federal Government.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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February 09, 2016 02:00 ET (07:00 GMT)
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