For immediate release
("NMR", the "Company", or, together with its subsidiaries, the "Group")
QUARTERLY UPDATE FOR THE THREE MONTHS ENDED
NMR, the leading
· Turnover for the quarter was
o Revenue has been impacted by the effect of the cyber-attack, announced on
o NMR operational systems have now been restored and the Company is working to relieve a modest backlog in testing and reporting
o The final cost of the cyber-attack is still being calculated but NMR anticipates that this cost will be in line with its previous estimates
o NMR continues to work closely with its customers to reinforce its strong relationships
· The number of cows on the NMR database has increased by 4.2% year on year to 725,160 (
· The number of cows on the Herdwise service has risen by 9.1% to 444,787 (
· Following approval at the AGM, the Company is set to pay a dividend of
· The Company remains on track to deliver its stated growth and business development objectives in line with its Strategic Plan
"Despite an encouraging start to the quarter, the previously announced cyber-attack caused significant interruption to our business in the subsequent period and I would like to thank the hard work of the entire NMR team who have dedicated many hours to ensuring NMR overcame this challenge. I would also like to thank our customers for their patience and support. I believe the experience gained during this time will make NMR a stronger business and put us in a good position going forwards.
"Many of the activities carried out during the recovery from the cyber-attack were in line with, and therefore accelerated, our Strategic Plan, which focuses on investing in our core business, including IT capabilities, and strengthening relationships with core customers. We are in the process of simplifying our business model and driving efficiencies within the Group, which includes the adoption of new systems and technologies. Not only does this drive service development but also helps us achieve our goal of operational excellence and resilience.
"NMR remains committed to its Strategic Plan and is continuing to invest in the systems and equipment to deliver annualised single-figure growth in revenue and double-digit growth in EBITDA in the mid-term. The first quarter of this financial year has been a set-back in this plan, however the one-off nature of the cyber-attack means the impact on our strategic goals is limited in the medium-term. The two significant one-off projects (TB index genomics and heat detection systems) undertaken in the
"Although uncertainty, in all markets, continues in the build-up to the General Election, including what impact this may have on the Brexit process and the macro-economy, NMR believes that food supply and the
Appointment of Corporate Advisor
We are pleased to announce the appointment of
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014.
This announcement is available on the NMR website at www.nmr.co.uk
The Directors of the Company are responsible for the contents of this announcement.
For further information please contact:
+44 7970 009 141
+44 20 7523 8000
Blytheweigh (Financial PR)
+44 20 7138 3204
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