StockMarketWire.com - Language translation software provider SDL said it expected to grow annual revenue by around 8%, despite a number of deals not closing as expected.

Revenue was expected to grow to £285m, the company said, while adjusted Ebitda would come in at around £22m, after R&D capitalisation of around £2.5m.

Net cash was in excess of £22 million at 31 December 2017.

"In its December trading update, SDL advised that certain software deals may not close by 31 December 2017 and this occurred in a number of cases," the company said.

"The group continues to work with customers to sign these deals."

"Also as previously disclosed, SDL experienced a faster, market-driven shift to Software-as-a-Service sales in 2017, which impacted group revenues by approximately £1 million to £2 million."

SDL said that gross margins in its language services division improved in the second half of 2017.


At 8:31am: [LON:SDL] SDL PLC share price was +8.5p at 438.5p



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