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Sage Group to report interims on Friday


The week ahead

In the UK, it is relatively quiet this week on the reporting front, as we begin the transition to March period end results. SmartSpace Software PLC (LON:SMRT), which provides software for smart buildings and commercial spaces announced its final results this morning for the period ending January. We also anticipate March interim results from Zytronic PLC (LON:ZYT) tomorrow and The Sage Group PLC (LON:SGE) on Friday.

Zytronic, which manufactures touch sensors, announces interim results tomorrow. In a trading update in January, it said that the downturn in sales experienced in the second half of last year had levelled out at about £2.0mln in the last quarter of the financial year 2020 (FY20) and the first quarter of the current financial year. The company announced at the time of its final results in December that it had adjusted its operations to take into account lower levels of demand resulting from the ongoing Coronavirus pandemic and related restrictions. While the reorganisation and cost reduction measures undertaken by management last year had enabled the group to maintain a positive EBITDA (underlying earnings), it said it was difficult to foresee a return to profits in this financial year. In February, the company repurchased some 28.8% of its ordinary shares in a tender offer, at a cost of around £6.7mln.

Sage, the Newcastle-based enterprise software company, reports its interim results on Friday. In its trading update in January, it said that recurring revenue in the first quarter (Q1) increased by 4.7% to £408mln, as software subscriptions jumped by 11.3% to £303mln. The subscription share of total revenue rose to 68% from 65%. Other revenue decreased by 24.0% to £39mln, which is in line with the company strategy to make the transition away from licence sales and professional services revenue and focus on growing its subscription revenue. Total Q1 group revenue increased by 1.4% to £447mln. The company issued a debut £350mln ten-year bond in February and began a £300mln share buyback programme in March. It also completed the sale of its Polish business in March for around £66mln and sold its Swiss business in April for around £39mln. These disposals follow the sale of the group’s businesses in Asia and Australia in December for roughly £95mln and together reflect the group’s strategy to create a simpler and focused business.

Across the pond, corporate earnings are quieter after the last two hectic weeks. Among the tech-related companies expected to report include: 3D Systems, 8×8, MagnaChip Semi, Rackspace, Bigcommerce, Converge Technology, International Game Technology, Applied Materials, Amdocs, Dynatrace, Wix.Com and PubMatic.

Date Company Event Period ending
10-May SmartSpace Software Final results 31-Jan
11-May Zytronic Interim results 31-Mar
14-May Sage Interim results 31-Mar
17-May Cerillion Interim results 31-Mar
18-May First Derivatives Final results 28-Feb
24-May Kainos Final results 31-Mar
24-May Cloudcall AGM trading update  
25-May AVEVA Final results 31-Mar
26-May Oxford Metrics Interim results 31-Mar
18-20 May Blue Prism  Blue Prism World  
Late May/E June Bytes Technology Final results 28-Feb
01-Jun CentralNic Q1 trading 31-Mar
03-Jun discoverIE  Final results 31-Mar
Early June Trackwise Final results 31-Mar
15-Jun CML Microsystems Final results 31-Mar
15-Jun GB Group Final results 31-Mar
18-Jun Blue Prism  Interim results 30-Apr
21-Jun Sysgroup Final results 31-Mar
24-Jun Alpha FMC Final results 31-Mar
24-Jun Redcentric Final results 31-Mar
29-Jun D4T4 Final results 31-Mar
June Osirium Final results 31-Dec
June Iomart Final results 31-Mar
June Intercede Final results 31-Mar
June Napster Final results 31-Mar
June Eckoh Final results 31-Mar
01-Jul AVEVA Capital markets day  
05-Jul Panoply Final results 31-Mar
06-Jul Ocado Interim results 31-May
Early July AdEPT Technology Final results 31-Mar
28-Jul FDM Interim results 30-Jun
29-Jul SRT Marine Final results 31-Mar
July Shearwater Final results 31-Mar
Late summer GRC Final results 31-Mar

 Source: Data from regulatory news and company websites

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