TIDMIMO

RNS Number : 3505A

IMImobile PLC

29 September 2020

29 September 2020

IMImobile PLC

("IMImobile", the "Company" or "Group")

AGM Statement and Trading Update

Today at 10.00am IMImobile (AIM: IMO), a global cloud communications software and solutions provider, is holding its Annual General Meeting ("AGM") at the offices of Bracher Rawlins LLP at 77 Kingsway, London, WC2B 6SR. In consideration of the UK Government's Staying alert and safe (social distancing) guidance this year's AGM is a closed meeting.

Ahead of the meeting, the Board of the Company would like to share the following trading update.

Performance update

Since the trading update of 9 July 2020, trading momentum across the Group has strengthened further. For the six months to 30 September 2020 the Group's cloud communications product set, which represents almost 90% of the Group's gross profit, is expected to deliver year on year gross profit growth of at least 20%. This includes a contribution from the acquisitions of 3Cinteractive and Rostrvm Solutions as well as organic growth.

Alongside continued momentum across our core sectors, volumes and activity levels in the sectors most adversely affected by the Coronavirus pandemic, notably healthcare, SMB and retail have shown significant recovery in the current quarter.

Strong progress has been made in the current quarter in North America. Multiple new customers have been won across a range of sectors including banking, financial services, insurance, mobile operators and retail, further validating our strategy in the region and technological capabilities. This is in addition to the successful launch of new strategic deployments for large US retailers which help underpin growth expectations for the second half of FY21.

The Group's operator VAS (Value Added Services) and mobile payments business, representing approximately 10% of Group gross profit has, as expected, continued to experience headwinds.

Outlook

The new contracts, which were won through competitive procurement processes, as well as a growing pipeline of opportunities in North America give the Board confidence of IMImobile's ability to compete and succeed in the largest addressable market for the Group's product set.

The Group continues to see substantial opportunities for growth in all markets in which it operates. It expects disruption caused by the pandemic to accelerate demand from large enterprises for its leading software and services as they transform their customer engagement strategies.

The Board are pleased with the Group's performance in the financial year to date and remain confident that the results for the full year will be in line with market expectations.

- ENDS -

For further information, please contact:

 
 IMImobile PLC                              c/o Alma PR 
 Jay Patel, Group Chief Executive Officer 
 Mike Jefferies, Group Chief Financial 
  Officer 
 
 Alma PR                                    Tel: +44 (0)20 3405 
                                             0205 
 Rebecca Sanders-Hewett                     IMImobile@almapr.co.uk 
 Susie Hudson 
  Harriet Jackson 
 
 Investec Bank - Nominated Adviser and      Tel: +44 (0)20 7597 
  Joint Broker                               5970 
 Henry Reast 
 Virginia Bull 
 Tejas Padalkar 
 
 N+1 Singer - Joint Broker                  Tel: +44 (0)20 7496 
                                             3000 
 Tom Salvesen 
 Justin McKeegan 
  Iqra Amin

About IMImobile PLC

IMImobile is a communications software provider whose solutions enable enterprises to automate digital customer communications and interactions to improve customer experience and reduce operating costs.

IMImobile's enterprise cloud communications software platform orchestrates customer interactions, connecting existing business systems with digital communications channels. Organisations that trust us to deliver smarter digital customer engagement include Hermes, Centrica, AA, O2, EE, BT, Walgreens, Tracfone, Ooredoo, Best Buy, Express, three of the major retail banks in the UK and public-sector organisations globally.

IMImobile is headquartered in London with offices across the UK, Hyderabad, Toronto, Boca Raton, Dubai and Johannesburg and has over 1,100 employees worldwide. IMImobile is quoted on the London Stock Exchange's AIM market with the TIDM code IMO.

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END

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(END) Dow Jones Newswires

September 29, 2020 02:00 ET (06:00 GMT)

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