CMS9 May 2013 08:22
Leading provider of personalised customer communication services, Communisis plc (LSE: CMS), issues its Interim Management Statement for the first quarter ended 31 March 2013.
The Board is pleased to confirm that trading during the period has been in-line with management expectations.
The Group's broad range of services continues to gain traction in the UK market and several of the most recently secured contracts, especially in the transactional sector, are being successfully implemented. The international business is also expanding, particularly in the FMCG sector, where there is good long-term potential for growth.
During the period, the Group successfully raised growth capital of £20m (before the deduction of fees and expenses) in a substantially oversubscribed equity placing. The net proceeds of this placing have been earmarked for investment in new contracts, for restructuring costs and for small acquisitions and working capital. These funds will enable the Group to maintain good progress against its key strategic objectives.
The Board will issue a detailed update on its progress and strategic plans alongside results for the period to 30 June 2013, expected to be issued on 1 August 2013.