Thursday, 26th May 2016 – Sydney – Infomedia Ltd (ASX: IFM), a leader in parts and service software to the global Automotive industry, provides the following update on its trading performance for the year ending 30 June 2016.
In line with previous guidance, Infomedia expects to deliver revenue growth of approximately 12%, from the previous corresponding period, for the year ending 30 June 2016.
During the 2016 financial year, Infomedia incurred a number of restructuring costs and has increased its investment in product development and sales.
As a result, Infomedia anticipates a net profit after tax (NPAT) for the 12 months ending 30 June 2016 to be in the range of $10.2 million to $10.5 million, down from $13.2 million from the previous corresponding period.
Infomedia’s CEO Jonathan Rubinsztein said: “Since starting, I have accelerated investment in the business to meet ongoing demand for Infomedia’s products.”
Infomedia’s CFO Richard Leon said: “We believe the current cost base is appropriate for our near term needs and growth.”
“The Infomedia business is in a good position to maintain strong underlying revenues and deliver new contract wins. Our ability to execute will be key to realising opportunities,” Mr Rubinsztein said.
Infomedia’s CEO Jonathan Rubinsztein and CFO Richard Leon will provide an update to the market on their first 2 months in their respective roles, their observations and their objectives on Tuesday, 31 March 2016.
This presentation will be released to the ASX on the morning of the briefing. The presentation and an audio recording of the briefing will then be available on Infomedia’s website at www.infomedia.com.au.