logo-loader
viewInstem PLC

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: 471 GBX

AIM:INS
Market: AIM
Market Cap: £78.53 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Instem PLC named herein, including the promotion by the Company of Instem PLC in any Content on the Site, the Company receives from said issuer...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Investor Update: CentralNic Group looks to acquire website provider Team...

Headlines from the Proactive UK newsroom. CentralNic Group (LON:CNIC) has confirmed advanced discussions are underway to acquire website provider Team Internet. The AIM-listed domain name specialist said further announcements will be made in due course. Life sciences group Instem (LON:INS)...

on 15/11/19

2 min read