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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(END) Dow Jones Newswires

February 09, 2016 02:00 ET (07:00 GMT)

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