Assetco Regulatory News (ASTO)

6 Mar 2006 07:01

Asfare Group plc06 March 2006 Press Release 6th March 2006 Asfare Group plc ("Asfare" or "the Group") Trading Update Asfare, the specialist supplier of products and services for the emergencyservices and homeland security market, today announces a trading update. The Group has seen a return to profitability in the second half of the yearwhich will lead to a significant improvement in profitability for the full yearto 31 March 2006 against 2005. This recovery is being driven by an increase inorders from a number of Asfare's customers and a clarification of the fireindustry's procurement policy as foreshadowed by the Board on 28th November2005. Todd Research, which was acquired in November 2005 for a cash consideration of£1.65m has been successfully integrated into the Group and has been profitablesince acquisition. Asfare is pleased to announce the appointment of Chris Awcock as ManagingDirector of Todd Research from 20 March 2006. Chris Awcock is aged 43 and waspreviously employed at Pitney Bowes for ten years, latterly as Sales andMarketing Director between 1998 and 2000. Prior to joining Asfare he was theowner and Managing Director of Call Performance Ltd, a sales agency specialisingin the sale of office related hardware, software and services. The Board continue to review a number of potential further acquisitions withinthe homeland security markets. The Group expects to announce its results for the year to 31 March 2006 on the25th May 2006. The board also expects to recommend the payment of a dividend forthe year to March 2006." For further information, please contact: Enquiries:Asfare Group plc www.asfare.comTony O'Neill, Chief ExecutiveTim O'Connor, Finance Director Tel: +44 (0) 2380 861 966 Seymour PierceMark Percy Tel: +44 (0) 20 7107 8000 Media enquiries:Abchurch CommunicationsAriane Comstive/Julian Bosdet Tel: +44 (0) 20 7398 7700ariane.comstive@abchurch-group.com - Ends - This information is provided by RNS The company news service from the London Stock Exchange