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Trading statements

Sepura expects lower revenue in next financial year

14 September 2016 12:11

Sepura said order intake in recent months was lower than expectations due to emerging delays in device refresh opportunities in several key markets, primarily through budgetary pressures which are extending product lifecycles.

Key contract awards in the group's systems business was also subject to delay.

The latest sales pipeline and associated timing indicated that order intake for the full year will have a significant impact on the group's FY17 revenues.

The Board said it anticipates adjusted EBITDA for the current financial year could be c.60% lower than previous expectations.

Sepura said it has sufficient liquidity for its forecast needs. The revised revenue expectations may require Sepura to discuss with its lenders a possible waiver of certain of its covenants from March 2017.

Further significant savings are being targeted to realign fundamentally the cost base under a continual drive for operational efficiencies across the group.

At 12:11pm: (LON:SEPU) Sepura PLC share price was -9.87p at 33.88p

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