Ubisense Group PLC Trading Update (0730S)
03 Julho 2015 - 3:00AM
UK Regulatory
TIDMUBI
RNS Number : 0730S
Ubisense Group PLC
03 July 2015
3 July 2015
Ubisense Group PLC (the "Company")
Trading Update
Ubisense ("Ubisense" or the "Company") (LON:UBI), a market
leader in enterprise location intelligence solutions, announces an
update on current trading following the close of the Company's
first half ended 30 June 2015.
The Company's seasonality profile has typically seen it sign the
majority of its higher margin Solutions revenues in the second and
fourth quarters. In addition to the anticipated reduction in lower
margin Services revenues and the previously announced slippage of
two major contracts into H2, we have now seen further delays in
signature of certain contracts, with the result that Solutions
revenue for the first half will now be some way short of that
achieved in the first half of 2014.
Although the majority of the contracts which have slipped are
expected to be closed during the second half, the Board believes it
is prudent to plan on the basis that the H1 revenue shortfall is
unlikely to be recovered in full in the second half of 2015. The
Company's gross margin is however expected to be significantly
higher in the second half of the year than the first half driven by
the anticipated conversion of our Solutions opportunities
increasing the mix of higher margin licence sales. Additionally, a
review of the Ubisense business and its costs has led the Board to
conclude that a restructuring of its operations is required to
drive operational profitability.
As previously announced, Peter Harverson has been acting as Vice
Chairman to provide senior oversight and leadership to the sales
team on an interim basis. Under his guidance, the restructuring
activity, addressing both overhead costs and sales effectiveness in
certain smaller markets, will incur one-off charges and is expected
to deliver significant ongoing savings and mitigate the impact of
the revenue shortfall on the full year operating result. Much of
this restructuring is already underway and expected to be
substantially completed by the time we announce our half-year
results.
Enquiries:
Ubisense Group plc +44 (0) 1223 535170
Richard Green, Chief Executive
Numis Securities Limited +44 (0) 20 7260 1000
Rupert Krefting (Corporate Broking)
Simon Willis, James Lillywhite (Corporate Finance)
About Ubisense
Ubisense (AIM: UBI), a global leader in Enterprise Location
Intelligence solutions, helps manufacturing, communications and
utility companies improve operational efficiency and boost
profitability. Ubisense location intelligence systems bring clarity
to complexity, enabling customers to revolutionise their
operational effectiveness in a measurable way. Founded in 2002,
Ubisense is headquartered in Cambridge, England, with offices in
North America, France, Germany, Japan, Korea and Singapore. For
more information visit: www.ubisense.net.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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