Panoply Registers Profit, Revenue Growth In First Post-Float Results

LONDON (Alliance News) - Technology consultant Panoply Holdings PLC on Thursday reported both ...

Alliance News 20 December, 2018 | 9:10AM
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LONDON (Alliance News) - Technology consultant Panoply Holdings PLC on Thursday reported both profit and revenue growth, not long after joining London's AIM market.

Panoply began trading in London earlier in December, having raised GBP5.0 million in its initial public offering. It helps customers such as the BBC, the National Trust and Unicef, develop digital products and services.

For the six months to September, Panoply's revenue increased 48% year-on-year to GBP10.1 million, while pretax profit increased to GBP1.3 million from GBP1.1 million.

There was "significant" growth in customer during the period, Panoply said, with 90 customers billed in just 6 months compared to 114 in the 15 months to March 31.

Nearly half of those billed in the period were also billed during 2016 and 2017, the firm said, which shows "the long standing relationships the group is building".

Looking ahead, Panoply said it has "considerable" momentum, with its Deeson Group Holdings Ltd acquisition, announced this week, providing its first earnings enhancing acquisition post-IPO.

Panoply expects to meet expectations for its full year, and expects to remain both profitable and cash generative.

Shares were untraded on Thursday, last quoted at 82.50 pence each. This compares to its IPO price of 74p.

By George Collard; georgecollard@alliancenews.com

Copyright 2018 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar
Rating
The Panoply Holdings PLC Ordinary Shares 100.00 GBX 0.00 -
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