News Details

Trading and Business Update

SimiGon (LSE: SIM), a global leader in providing simulation training solutions, is pleased to provide an update on trading and business performance for the year ended 31 December 2014.

The Company is pleased to report that it continued to trade well during the year ended 31 December 2014 ("the period") and that it expects to report a significant increase in profits compared to the prior financial year. The Company's balance sheet remains strong with over $9m of liquid cash at 31 December 2014.

During the period the Company successfully continued to improve its position as a leading supplier of training and simulation technologies for the world's largest military flight training programmes. This included cementing its position as a prime contractor for major, long term simulation training programmes, expanding into new territories and diversifying its product capabilities. Furthermore, the Company has continued to meet project milestones for long term contracts on time and on budget, executing delivery and performance of its systems including delivering on project milestones on the $6.7 million contract awarded in June 2013.

SimiGon President & CEO, Ami Vizer, said: "We are pleased to report that our strong performance continued during 2014. We continue to strengthen our position working with valuable global partners as a supplier of choice in the provision of simulation training solutions. We continue to focus on strategic long term contracts, providing SimiGon the ability to maintain and grow its strong financial position whilst achieving visibility of revenues and a robust pipeline of new opportunities which gives us great confidence for 2015 and beyond."

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