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Instem delays its preliminary results announcement but reiterates previous guidance

In a trading update on 13 January 2020, the group said that, subject to audit, it expects to report 2019 revenues of approximately £25.7mln and adjusted underlying earnings (EBITDA) of approximately £4.9mln

Financial results
instem said then that it had a 2019 year-end closing cash position of £6.0mln

Instem PLC (LON:INS), a leading provider of IT solutions to the global life sciences market, said it has decided to follow the guidance from the UK Financial Conduct Authority (FCA) and will not now announce preliminary results on 30 March 2020, but the group has reiterated its previous guidance.

As announced by the on 23 March, the FCA has written to all listed companies it was aware of that were planning to announce preliminary results in the next few days, strongly requesting that all should observe a moratorium on the publication of their preliminary statements for at least two weeks in order is to ease the practical challenges faced by those companies and the audit profession during the current coronavirus (COVID-19) crisis.

READ: Instem continues to benefit from a buoyant market

Instem pointed out that, in line with the guidance provided in a trading update it issued on 13 January 2020, subject to audit, the group expects to report 2019 revenues of approximately £25.7mln and adjusted underlying earnings (EBITDA) of approximately £4.9mln, with a 2019 year-end closing cash position of £6.0mln.

The company said its board will update the market with a date for the release of its audited 2019 financial statements as soon as practicable.

Quick facts: Instem PLC

Price: 465 GBX

Market: AIM
Market Cap: £95.24 m

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