Ubisense Group plc (AIM: UBI, "Ubisense" "the Group") has announced its interim results for the six months ended 30 June 2011.
- Revenue increased 41% to £11.3m (H1 2010: £8.0m)
- Adjusted EBITDA* of £0.4m (H1 2010: £0.5m)
- Operating profit, excluding AIM admission costs, of £0.2m (H1 2010: £0.2m)
- Reported operating loss £0.1m (H1 2010: operating profit £0.2m)
- Adjusted diluted EPS** 2.6p (H1 2010: 2.7p)
- Net cash of £8.1m
- Initial public offering on AIM with substantially oversubscribed fundraising raising £5.0m before expenses for the Group and £3.7m for selling shareholders
- BMW global licence and orders for Cowley, UK and Shenyang, China
- FPS sale to Deutsche Telekom
- French subsidiary established
Richard Green, Chief Executive, said: "We have delivered a robust set of results, our first, as a listed company, with a strong increase in revenues, a substantial order book and growing opportunity pipeline. Admission to AIM marked an important landmark in the Group's development. It has provided us with a strong platform to support the rapid growth of our business and to leverage existing customer relationships with global leaders such as Aston Martin, Atlas Copco, BMW, Deutsche Telekom and EADS. With good momentum in the business and a growing order book, we remain confident that this robust performance will continue in the second half of 2011."
* Measured as operating profit excluding depreciation, amortisation, share-based payments charge and AIM listing expenses.
** Earnings measured as profit for the period excluding depreciation, amortisation, share-based payments charge and AIM listing expenses.