Ingenta's performance improves, to pay first dividend

16th Jan 2017 11:01

(ShareCast News) - Shares in Ingenta were on the front foot as the software provider to the publishing and media industry reported that it saw an improved performance in the first half of the year, with full year earnings expected to exceed expectations and it is to pay its first dividend.The AIM-listed company said that its financial performance continued the recovery shown in the first half of the year, with positive progress for revenues, margins, costs, and cash flow.Ingenta, now anticipates that earnings before interest, tax, depreciation and amortisation (EBITDA) and cash for the full year, with a year-end net cash balance of about £2m, will exceed expectations.The company confirmed it will pay its first ever dividend of 1p per each.Chief executive David Montgomery, said: "I am pleased that the actions we have taken are delivering a substantially improved financial performance. Following several years of product investment, we achieved a significant increase in new business wins in 2016. We also made a number of new senior hires which we expect will positively impact the business going forward."In addition to underpinning the results for 2016, these new wins and the existing high level of recurring revenues provide a solid base for continued progress in 2017 and beyond. Our priorities are to drive sales growth whilst maintaining a disciplined approach to costs and cash."Shares in Ingenta were up 13.23% to 177.20p at 1111 GMT.