IMImobile PLC: Preliminary Results for the year ended 31 March 2018

IMImobile PLC (LON:IMO), a cloud communications software and solutions provider today announced its Preliminary Results for the year ended 31 March 2018. These Preliminary Results are an abridged statement of the full annual report including the audited financial statements approved by the directors on 26 June 2018.

Key financial highlights of the Group

· Revenue up 46% to £111.4m (2017: £76.1m) of which 7% is organic1

· Gross profit up 17% to £50.7m (2017: £43.4m) of which 3% is organic1

· Adjusted EBITDA2 up 17% to £13.4m (2017: £11.5m)

· Adjusted profit after tax2 up 4% to £7.8m (2017: £7.5m)

· Profit after tax on a statutory basis of £0.8m (2017: £4.1m) after charging contingent consideration related expenses and acquisition costs

· Established track record of performance with 4 year revenue CAGR of 27%, 4 year gross profit CAGR of 16% and 4 year adjusted EBITDA2 CAGR of 17%

· Good contribution from both the Europe & Americas and the India & SEA regions with gross profit growth of 37% and 18% respectively

· Currency and economic headwinds and full year impact of major customer contract renewal in MEA region resulted in 17% decline in gross profit

· Adjusted cash generated from operations2 of £11.5m (2017: £11.9m) with strong cash conversion3 of 86% (2017: 104%)

Operational highlights of the Group

· Strong organic growth from both Europe & Americas and India & South-East Asia regions

· New major client wins in all regions across mobile operator, financial services, logistics, utilities and government sectors

· Multi-year renewal of contract with the Group’s largest banking customer in the UK

· Consolidated market leading position in the UK, with acquisition of Healthcare Communications providing further access to the public sector

· Acquisition of Sumotext in the US creating a platform for sales into large enterprises in North America

· Revenue synergies achieved from Textlocal, Archer and Infracast acquisitions

· Multiple deployments of IMIbot.ai plus inclusion of RCS4 capability in the IMIconnect platform

Gresham House Strategic PLC (LON:GHS) has a 42.1% ownership of IMImobile PLC, correct as of 31 January 2018 month end NAV announcement, released 1 February 2018.

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