TIDMTPX

RNS Number : 7831L

Panoply Holdings PLC (The)

15 September 2021

This announcement contains inside information

15 September 2021

The Panoply Holdings PLC

("The Panoply", or the "Group")

Trading update

Trading significantly ahead of expectations

The Panoply Holdings PLC (AIM: TPX), the technology-enabled services group focused on digital transformation, announces an update on trading for the five month period from 1 April 2021 to 1 September 2021.

The Group is pleased to report a strong first five months of trading in H1 22. During the period, the Group won c.GBP50m of new contracts (equivalent period in 21: GBP18m) representing an 177% increase in order intake. These new contracts include a significant win in the utilities sector representing a value of up to GBP10.0m over five years.

Alongside the continued high demand for digital transformation services across the Group's end markets, this trading performance reflects its growing ability to take on larger and more impactful projects and the expanded capabilities brought about through recent acquisitions.

As a result of this strong trading, the Board is raising guidance for organic like -for- like revenue growth for the full year ended 31 March 2022 to between 15-20% (from the original commercial vision target of 10-15%). The Board now expects to report revenue for the full year in excess of GBP77m. In light of the growing market opportunity , and in order to execute on the substantial pipeline that has been built, the Company is investing in human capital and a single brand, but still expects to see Adjusted EBITDA margin expansion in the year.

Neal Gandhi, Chief Executive Officer of The Panoply said:

"I'm delighted to report on an unprecedented period of trading for the Group which has seen a significant number of new business wins over the summer. We are making excellent progress in our move to a single brand and the substantial benefits of further consolidation through our ability to deliver larger projects and consolidate our capabilities is already evident from the acceleration in momentum over the last five months.

"It is clear the demand for digital transformation services continues at full pace, and with this clear strategy in place I am confident we are well-positioned to take advantage of the significant opportunities ahead across both our existing and new markets.

"We look forward to providing the market with further information around our move to a new, consolidated brand on 23 September."

The person responsible for this announcement is Oliver Rigby, CFO.

* Adjusted EBITDA is a non-IFRS measure that the Company uses to measure its performance and is defined as earnings before interest, taxation, depreciation and amortisation and after add back of costs related to acquisitions, restructuring and other one off costs made by the Group, fair value adjustments and share based payment charge .

Enquiries:

 
 The Panoply Holdings 
  Neal Gandhi (CEO)             Via Alma PR 
  Oliver Rigby (CFO) 
 
  Stifel Nicolaus Europe        +44 (0)207 710 7600 
  Limited 
  (Nomad and Joint Broker) 
 Alex Price 
  Fred Walsh 
 
   Dowgate Capital Limited 
   (Joint Broker) 
   James Serjeant 
   David Poutney 
   Nicholas Chambers            +44 (0)203 903 7715 
 Alma PR                      panoply@almapr.co.uk 
  (Financial PR)               +44 (0)203 405 0209 
  Susie Hudson 
  Kieran Breheny 
  Matthew Young

About The Panoply

The Panoply is a technology-enabled services group, built to service clients' digital transformation needs. Founded in 2016, with the aim of identifying and acquiring best-of-breed specialist information technology, design and innovation consulting businesses, the Group collaborates with its clients to deliver the technology outcomes they're looking for at the pace that they expect and demand.

The Group is being increasingly recognised as a leading alternative digital transformation provider to the UK public services sector, with c.70% of its client base representing the public sector and c.30% representing the commercial sector.

More information is available at www.thepanoply.com .

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

TSTFLFSAARISLIL

(END) Dow Jones Newswires

September 15, 2021 02:00 ET (06:00 GMT)

Tpximpact (LSE:TPX)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024 Haga Click aquí para más Gráficas Tpximpact.
Tpximpact (LSE:TPX)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024 Haga Click aquí para más Gráficas Tpximpact.