RNS Number : 7638Z
IDE Group Holdings PLC
27 January 2022
 

IDE Group Holdings Plc

("IDE" or the "Company")

Trading Update

IDE Group Holdings plc, the mid-market network, technology outsource partner is pleased to announce a trading update for year ended 31 December 2021.

 

The results reflect the continuing business only. Revenue growth in 2021 was over 20% that of 2020 on a like for like basis and will not be less than £14m. EBITDA will not be less than £2.5m.  

 

The financial year 2022 has begun well with several new contracts already won and due to be implemented. We expect double digit revenue growth in 2022, of which 85% is from existing contracted customers.

 

Andy Parker said "Last year's results are the result of three hard years' work by all of the team at IDE. The Company is well placed to build upon the 2021 results. The board are exploring resolutions for the Shareholder loan notes (the only debt the business has), which would be the final stage of the restructuring, and which would allow the Company to grow organically and possibly through acquisition should the right accretive opportunities become available".

 

Contacts:

 

IDE Group Holdings Plc

Andy Parker, Non-Executive Chairman

 

Tel: +44 (0)344 874 1000

finnCap Limited

Nominated Adviser and Broker

Corporate finance: Jonny Franklin-Adams/ Abby Kelly

ECM: Tim Redfern/ Richard Chambers

Tel: +44 (0)20 7220 0500

 

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
 
 
TSTBKABNOBKDQDB