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Final Results for the year ended 30 June 2017

  • Created on the 14 August, 2017.
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14/08/2017

ARCONTECH GROUP PLC

(“Arcontech”, the “Company” or the “Group”)

Final Results for the year ended 30 June 2017

Arcontech (AIM: ARC), the provider of products and services for real-time financial market data processing and trading, is pleased to announce its final audited results for the year ended 30 June 2017.

Financial Highlights:

• Revenue of £2,307,751 (2016:£2,141,630)
• Adjusted profit before tax* of £441,996 (2016: £329,260)
• Profit before tax of £373,263 (2016:£302,329)
• Cash balance of £2,636,471 (2016:£1,633,159)
• Basic earnings per share of 3.79p (2016 3.38p)
• Maiden final dividend of 1 pence per share

*Adjusted for share-based payments

Operational Highlights:

• Healthy injection of new contracts mainly through additional sales of server-side infrastructure solutions to existing customers, with full benefit to come in 2017/18

• New desktop software solution currently in proof of concept trials at five Tier 1 banks

• Continued investment in sales & marketing with increased sales focus on Asia

• Increased participation in the fintech community with wider benefits for the group

• Strong cash generation

Commenting on the results, Richard Last, Chairman of Arcontech said:
“Arcontech is a well-run business where costs, including continued product investment, are well controlled such that increases in revenue materially improve profitability. Our focus is, therefore, on winning new business. Whilst we believe the opportunities for increased sales exist, the sales cycle is unpredictable and remains longer than we would like. Our prospects are positive, albeit they need to be tempered against uncertainties in the investment banking and finance sectors, as a result of the low interest rate environment and issues following Brexit.”

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

Enquiries:

Arcontech Group plc
020 7256 2300
Richard Last, Chairman and Non-Executive Director
Matthew Jeffs, Chief Executive

finnCap Ltd (Nomad & Broker)
020 7220 0500
Carl Holmes/Simon Hicks

To access more information on the Group please visit: http://www.arcontech.com

Please click here to view full details of the Final Results RNS