11 Jan 2011 07:00
Best of the Best plc
("Best of the Best" or "the Company")
Trading Update
11th January 2011
Best of the Best, the leading luxury car competition company that operates both in airport terminals and online is pleased to announce that trading for the 6 month period to 30 October 2010 has been in line with market expectations.
Further to the announcement of 11th October 2010, relating to the termination of BAA contracts, the Directors have undertaken a strategic and operational review of the business.
New competition structures with a broader appeal have been introduced to assist in the growth of the online business. In addition, the Company is in the process of expanding the range of competitions to reach a wider audience.
Our new site at Dublin's Terminal 2 opened in November 2010, and whilst it has been affected by a delay in the build up of passenger volumes, the Directors are positive about prospects for this site in 2011. The Company has also negotiated to retain its site in BAA's Edinburgh Airport.
Despite the unfortunate events of the past few months, the Directors are confident in the steps that have been taken to reshape the business, and that they have created a stable platform from which to rebuild and grow revenues.
The business continues to benefit from its healthy balance sheet position with current cash balances of £2.7 million.
The results for the 6 months ended 30 October 2010 are expected to be announced on 14
February 2011.
Enquiries:
Best of the Best plc | William Hindmarch, Chief Executive Rupert Garton, Commercial Director | T: 020 7371 8866 |
Biddicks | Shane Dolan | T: 020 7448 1000 |
Charles Stanley Securities Nominated Adviser | Mark Taylor/Luke Webster | T: 020 7149 6000 |
Please visit www.botb.com for further information