Look how cheap this is21 Jul 2011 15:08
The Group expects to report profit before tax of approximately GBP3.4 million (as adjusted for amortisation of intangibles, the charge for share options and exceptional items) for the year ended 30 April 2011. Although below expectations this compares with a loss of GBP0.2m in the prior year and gives us a firm foundation to address the opportunities for growth across the business in the current year. Cash balances at the year end were approximately GBP5m.
On a like for like basis, EXPANSYS retail revenues are expected to show growth of circa 30% over the previous year with all regions reporting sales growth for the 12 month period, led by significant growth in Asia and the US. As noted in the Group's statement in January this year, the UK consumer environment has been challenging; these trading conditions continue and the resulting competitive retail environment in which the Group is operating places margins under pressure. However, the Board is pleased to report that both Data Select Network Solutions Limited ('DSNS') and PJ Media Limited ('PJ Media') generated stronger profits for the year than forecast in January, and have contributed strongly to Group performance since their acquisition in July 2010.