Ingenta PLC (AIM:ING) shares were off 7% in early Wednesday exchanges following the AIM-listed software group’s latest trading update.
Unaudited revenues increased 3% year on year to £10.8 million, with adjusted earnings adding 10% to £2.2 million.
Year-end cash balances increased 13% to £2.7 million, while the board announced a 2.6p dividend, up from 2.25p in 2022.
“Elsewhere in the business, I'm delighted to report the addition of three new customers onto our IP management platform,” commented chief executive Scott WInner. “These deals are for music and media partners across the globe and add further momentum behind our expansion into adjacent vertical markets."
Ingenta shares were swapping for 162.75p at the time of writing.