Promethean World Plc Trading Update (2738A)
December 19 2014 - 2:00AM
UK Regulatory
TIDMPRW
RNS Number : 2738A
Promethean World Plc
19 December 2014
19 December 2014
Promethean World Plc
("Promethean" or "the Group")
Trading update
Promethean World Plc (LSE: PRW), a world leader in the global
market for interactive learning technology, today provides the
following trading update.
In its last Interim Management Statement, on 6th November 2014,
Promethean noted that, whilst seeing a stronger order pipeline
building for the International region and also expecting to trade
well in North America in the fourth quarter, there was an inherent
risk on timing of orders around the year end.
It is now evident that certain larger contracts, that have been
under negotiation for a period of time and that were originally
anticipated to ship in the fourth quarter of 2014, are now expected
to ship in the first quarter of 2015.
We therefore anticipate that revenue for the year will be below
expectations at approximately GBP118m - GBP120m, with a
consequential impact on Adjusted EBITDA. There will also be a
short-term impact on year-end cash, due to the volume of orders
received late in the period increasing working capital. The cash
position is expected to normalise during the first quarter of
2015.
Enquiries
Promethean World Plc +44 (0) 1254 290749
Jim Marshall, Chief Executive Officer
Ian Baxter, Chief Financial Officer
Citigate Dewe Rogerson Consultancy + 44 (0) 20 7638 9571
Anthony Carlisle + 44 (0) 7973 611888
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTLIFFRFALALIS
Promethean (LSE:PRW)
Historical Stock Chart
From Jun 2024 to Jul 2024
Promethean (LSE:PRW)
Historical Stock Chart
From Jul 2023 to Jul 2024