BLTG.L Regulatory News (BLTG)

21 Jul 2005 07:01

Fonebak plc21 July 2005 Fonebak plc (the "Company") Trading Update Following flotation in March of this year, Fonebak is pleased to report that ithas had a strong final quarter to the financial year ending 30 June 2005 andanticipates reporting annual revenue of approximately £37 million, up from £27million for the year ended 30 June 2004 and profit anticipated to be in linewith management expectations. Preliminary results are due to be announced on 26 September 2005. Chief Executive Kathy Woodward said: "Fonebak has continued to make sound progress during the year. Our offshorerefurbishment centre in Romania is delivering anticipated volumes and we haveincreased our footprint in Europe by opening a new logistics centre in Lille,France and Customer support offices in Lisbon and Rome. We continue to workclosely with our clients to ensure their compliance with the Waste Electricaland Electronic Equipment Directive that requires priority be given to re-use andthe achievement of minimum recycle rates. The company anticipates giving furtherdetail of the next stages of its growth strategy in the near future". 21 July 2005 Enquiries: Pelham Public RelationsJames Henderson 020 7743 6673 M - 07774 444163Charles Vivian 020 7743 6672 M - 07977 297903 Company Notes Fonebak is the UK based leader in the refurbishment, resale and end of lifeprocessing of mobile phones. It has contracts with mobile phone operators, majorretailers and handset manufacturers across Europe to provide services to repair,refurbish and either remarket and/or recycle the millions of handsets replacedeach year (it is estimated that over eighteen million handsets are replaced eachyear in the UK alone). Fonebak not only provides environmental compliance for its clients and deliversaffordable communications to the populations of developing economies (themajority of whom are unable to afford the price of even the cheapest newhandset), but through its World recycling support scheme it also raisesinternational environmental awareness and through revenues generated on behalfof its clients (much of which is donated to charity) supports over 1,000charitable activities. Its combination of business success in internationaltrade and corporate social responsibility has won it many awards includingBusiness in the Community, and Queens Award for Enterprise in 2005. ENDS This information is provided by RNS The company news service from the London Stock Exchange