Andrew Blazye, Non-Executive Chairman of Universe, commented:
“We are pleased to report that revenues across the Group’s activities for the first half show growth on the same period last year, that we have secured important existing contracts and won new customers and remain cash generative with a strong backbone of recurring revenue. We have continued to invest in the business with key hires and product development which has impacted short-term profit growth but with clear benefits for the longer term.
The Group is therefore overall in robust health and well positioned in the market. We are, as previously stated, also a second half weighted business, dependent on a small number of high value projects with lengthy sales cycles. The above considerations, and that our convenience sector EPOS product has become available to the market later than expected, leads us at this stage to expect sales for the year to be consistent with those of the previous financial year.
We are confident that the early actions we’ve taken in the marketplace mean we are well positioned for growth in 2019 and beyond.”
Universe Group plc (AIM: UNG), a leading developer and supplier of point of sale, payment and on-line loyalty systems, announced its unaudited interim results for the six months to 30 June 2018.
· Revenues up 6.3% to £9.25 million (H1 2017: £8.70 million)
· Adjusted EBITDA £0.98 million (H1 2017: £0.96 million)
· Operating profit £0.17 million (H1 2017: £0.22 million)
· Earnings per share 0.06p (H1 2017: 0.11p)
· Net cash inflow from operations up at £1.98 million (H1 2017: £1.32 million)
· The delivery of plans in payments and loyalty has been pleasing, although the completion of next generation EPOS products for the convenience sector was delayed until the current quarter
· Recent developments include the investment in hiring a new Sales and Marketing Director in June and a Chief Technology Officer this month