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Non-Renewal of a Data Licence Agreement for Superservice Menus & Revised FY 2015 Profit Guidance

By January 6, 2015December 9th, 2016ASX Announcements

Tuesday, 6 January 2015 – Sydney – Infomedia announces that, as a consequence of the non-renewal of one of its agreements with Jaguar and Land Rover Limited (Jaguar Land Rover), the Company’s expected FY 2015 revenues and NPAT will reduce by approximately A$1.1 million and A$0.8 million, respectively.

Consequently, the Company now expects its NPAT to exceed A$13.7 million in FY 2015 (FY 2014: $12.3 million). Infomedia’s previous profit guidance – confirmed at its AGM on 30 October 2014 – was for FY 2015 NPAT to exceed A$14.5 million.

Since initiation in 2009, this agreement relating to the provision of Infomedia’s online Superservice Menus to Jaguar Land Rover’s authorised service departments worldwide had grown to generate approximately A$2.2 million in annual recurring subscription revenue.

The Company is due to release its Half Year Results on 19 February 2015.