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Trading statements

Sepura sees FY revenues up 45% at 191m euros

27 April 2016 09:44

Sepura sees FY revenues up 45% at 191m euros, but expects to report adjusted EBITDA of 17m euros, which is flat on the prior year and in-line with the statement released earlier in April.

"Despite a disappointing end to the year, our business is fundamentally sound with a record order book and a strong market position," said CEO Gordon Watling in a statement.

"In light of current working capital constraints the Board is committed to securing an appropriate capital structure which will provide short-term working capital liquidity and the financial flexibility to convert our current sizeable pipeline.

"We will see the full benefits of our FY16 investments in people, premises and technology in the coming year and are confident that we can achieve our targets for FY17 with a focus on improving cash generation."

OUTLOOK

The Board has maintained its expectations for adjusted EBITDA for FY17. This is supported by the additional contribution from the delayed orders together with a full year of synergy benefits which will drive lower operating costs for the combined business in FY17 and a recovery in product margins now that the Saudi contract has completed.

These factors offset the lower expectations for Applications and DMR. With the growing momentum for the TETRA business, particularly in North America, the Company will be increasing its focus on this over other areas such as DMR.

At 9:44am: (LON:SEPU) Sepura PLC share price was -24.25p at 68.75p

Story provided by StockMarketWire.com

Related Company: SEPU

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