26 July 2018
Stilo International plc (“Stilo” or the “Company”) today provides a trading update following its half year end on 30 June 2018. The Company develops software tools and cloud services that help organisations create and process structured content in XML format so that it can be more easily stored, managed, re-used, translated and published to multiple print and digital channels.
In the Company’s AGM statement of 23 May 2018 we indicated that results for year ended 31 December 2018 would likely be impacted because of the non-repeatability of two significant contracts that were received in 2017. Unfortunately, during the first six months of 2018 the Company has not made the sales breakthroughs required to compensate for the orders shortfall and the Board can now confirm that the Company expects to report a near break-even position for the six month period ended 30 June.
Current indications are that this position is likely to continue for the second half of 2018, as the Company looks to build the sales pipeline. In the meantime, given our strong balance sheet, the Board intends to continue to make significant investments in R&D and expects to announce the payment of an interim dividend when the interim results are published in late August.
ENQUIRIES
Stilo International plc
Les Burnham, Chief Executive T +44 1793 441 444
SPARK Advisory Partners Limited (Nominated Adviser)
Neil Baldwin T +44 203 368 3554
Mark Brady T +44 203 368 3551
SI Capital (Broker)
Nick Emerson T +44 1483 413500