StockMarketWire.com - Castleton Technology said it expected results for the full year to meet expectations amid 'good' organic growth.

The company expected revenue of not less than £26.3m and adjusted earnings (EBITDA) of not less than £6.3m for the year.

Cash generation for the year was solid, resulting in operating cash conversion of not less than 95% of adjusted EBITDA, facilitating a continued reduction in the Company's net debt from the prior year, Castleton Technology said.

'I am pleased with the progress Castleton has made over the past year, recording good organic growth in both revenues and profit, underpinned by continued solid cash generation,' said Dean Dickinson, CEO of Castleton.

'The Group has achieved a number of key operational milestones, notably, the delivery of our integrated product suite for two customers, a significant contract win with Connect Housing Association for the fully integrated solution (Total Contract Value £1.3 million) and an additional managed services contract with DGHP for Unified Comms.'

'The acquisitions of Deeplake Digital and our Indian development partner enhances our integrated offering and highlights our ability to develop new solutions.'

The group expected to announce its preliminary results in June 2019.



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