LONDON - Significant EBITDA Growth Underlines Strong Trading Performance
Publishing Technology plc (PTO.L), the leading provider of
information technology tools and services to international book and academic
publishers, is pleased to announce its audited results for the year ended 31
December 2008.
The company’s software is used across the publishing industry
for an array of functions, such as royalties’ management (including for
authors such as JK Rowling) and last year it launched Inspire, the first ever
‘itunes’ type software for internet book downloads.
Highlights
- Group EBITDA of GBP0.9m
- Positive trading cash flow from business units
- High recurring contract renewals and customer increase
- A continuing reduction in overheads;
- Expansion into Germany and Brazil
- Solid platform for further growth in rapidly-changing market
Publishing Technology recorded strong growth in revenues and
profits based on a comparison with annualised 2007 results (the actual 2007
results covered an 18 month period as a result of the reverse acquisition of
Ingenta plc by Vista International Limited, which created Publishing
Technology):
- Annual revenues were up 7% at GBP15.4 million
- EBITDA was up over GBP1m at GBP0.9m
- Gross profit was up 32.2% at GBP6.1 million
- Adjusted profit before tax was GBP0.6 million
Last year, the Company launched a prototype of IngentaConnect
Mobile, which is intended to be fully operational during Q2/2009, to
capitalise on the strengthening trend of mobile technology being used to
deliver publisher content.
Significant progress has been made in delivering new products,
including:
- The implementation of the Company’s proprietary
Information Commerce Software (”ICS”) at the British Medical Journal (”BMJ”)
- A new sales, marketing and circulation management contract
with US-based BioOne, which will generate revenue for the Company of $1m per
annum
- The sale of the Company’s first new publisher software for
Contract, Rights and Royalty management
- Launches of pub2web online portals
In 2009, Publishing Technology has expanded into new markets.
In Brazil, the Company represents BioOne, Nature and other publishers, and in
Germany the Company has formed an alliance with a significant provider of
software and services.
George Lossius, Chief Executive of Publishing Technology,
commented:
“Publishing Technology, with its client list of over 400
publishers, is uniquely positioned to support publishers with a global,
consistent, end-to-end service across the breadth of the publishing supply
chain, helping them to minimise costs and maximise revenues.”
Source: Publishing Technology plc
Richard Evans - Tel: +44-(0)20-7630-1411 / +44-(0)7751-087-291
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