Ubisense Group PLC Trading Statement (2540V)
27 January 2017 - 6:00PM
UK Regulatory
TIDMUBI
RNS Number : 2540V
Ubisense Group PLC
27 January 2017
27 January 2017
Ubisense Group plc
("Ubisense" or the "Company")
Trading Statement
Ubisense Group Plc (AIM: UBI) a leader in high performance
Enterprise Location Intelligence systems, through its RTLS and
mobility focused geospatial (myWorld) offerings, is pleased to
provide the following trading update for the year ending 31
December 2016.
The Company showed continued good progress in terms of revenue
growth, margins, cost management and order book, all of which are
significantly better than those achieved in 2015. The increased
focus on our RTLS software platform has paid off with the signing
of a global software licence deal with a major automotive
manufacturer. We also signed some significant new and extended RTLS
product orders. In the geospatial division, we are seeing increased
demand for myWorld services projects and new licence sales.
The Company expects to report a net cash positive position as at
31 December 2016, which has improved in January through significant
debtor collections, and is in compliance with the banking covenants
on its new HSBC facility.
Peter Harverson, Executive Chairman, commented:
"I am pleased with the results of the actions we have taken to
improve the performance of the business in both divisions. I am
also pleased to report that we appointed a new CEO, Richard Petti,
in December 2016. With Richard's arrival, our priorities are to
drive sales growth whilst maintaining a disciplined approach to
cost and cash."
Richard Petti, CEO, said:
"Ubisense starts 2017 with a strong order book and good
momentum. It's a very exciting time to join the company and I'm
looking forward to working closely with the team to achieve further
success in the coming years".
For further information contact:
Ubisense Group plc +44 (0)1223 535170
Peter Harverson
Richard Petti
Tim Gingell
Numis Securities Limited +44 (0)20 7260 1000
Simon Willis
Jamie Lillywhite
Toby Adcock
Redleaf Communications +44 (0)20 7382 4730
Rebecca Sanders-Hewett
David Ison
About Ubisense
Ubisense (AIM: UBI), a global leader in Enterprise Location
Intelligence solutions, helps manufacturing, communications and
utility companies improve operational efficiency and boost
profitability. Ubisense location intelligence systems bring clarity
to complexity, enabling customers to revolutionise their
operational effectiveness in a measurable way. Founded in 2002,
Ubisense is headquartered in Cambridge, England, with offices in
North America, France, Germany and Japan. For more information
visit: www.ubisense.net.
This information is provided by RNS
The company news service from the London Stock Exchange
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