This Is A Must Watch Today...29 Jun 2010 08:04
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RNS Number : 3834O
@UK PLC
29 June 2010

Under Embargo until 7:00AM 29 June 2010 @UK PLC ("@UK" or "the Company") Final Results and 2009 Report and Accounts Notice of Annual General Meeting ("AGM") The Company is pleased to announce that the Report and Accounts for the year ended 31 December 2009, extracts from which are set out below, have been posted to shareholders, together with a Notice of AGM, and are available on the website: www.ukplc.net The AGM will take place at 10am on 20th July 2010 at 5 Jupiter House, Calleva Park, Aldermaston RG7 8NN. Highlights: · Revenue up from £2,172,000 to £2,295,000 - a 6% increase · Costs reduced from £2,869,000 to £2,421,000 - a 16% reduction · Loss before tax down from £1,522,000 to £799,000 - a 48% reduction · Gross Margin up from 70% to 73% · Successful placing of new shares raising £198,000 after expenses · Period end cash £ 225,000 (31 December 2008: £553,000 ) Chairman's Statement: 2009 a year in transition The position at the start of the year was that we had to turn the company around financially, strategically and in its day to day activities. We started by raising some funds to give us a little more flexibility and successfully raised £200,000 straight after our results were announced in May. In creating SpendInsight we had run the UK's largest KTP (Knowledge Transfer Partnership) project with an internal research team and 2 Universities as partners. This by its nature was fairly separate to the day-to-day activities of the business and performed very well. In the early part of 2009 some areas of the organisation had issues around focus and motivation, these issues were satisfactorily resolved and as a result, we have a small, highly motivated team who are focused on creating a good customer experience for all users. We recovered our productivity from the autumn of 2009 and by the year end we had sorted out our support issues and were back to making regular improvements to our system. Our shopping basket and checkout now have full multilingual support, and since the year end the rate of development h