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30 Jan 2009 14:00
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Cashbox plc
("Company")
AGMΒ statement
At theΒ AGMΒ today, the CompanyΒ will provideΒ theΒ following update onΒ trading:
As at 31 December 2008,Β the installed base of transacting machines was 2,838Β compared to 2,045 at 30 June 2008, with sufficient ATM stock in warehouse to meet installation requirements for the remainder of the financial year. The increase in machine numbersΒ isΒ essentially attributable to the acquisitions that took placeΒ during the second half of 2008. The integration of these machines on to the Cashbox platform is proceeding speedily and as aΒ consequence of thisΒ the Directors expect thatΒ thereΒ will be an improvement in the gross margin of the business.
Transaction revenues for the six month period ended December 2008 were upΒ on each of the sixΒ month periods ended 30 June 2008Β and 31 DecemberΒ 2007.
The operating costs of the core business have been maintained at the same level as the prior twelve months and are likely to be below this level for the year as a whole.Β
TheΒ Company continues to seekΒ further acquisition targetsΒ although theΒ Directors acknowledge thatΒ raising ofΒ further equity and/or debtΒ capital mayΒ prove challengingΒ in the current economic climate.
The Group expects toΒ announce itsΒ Interim Results for theΒ sixΒ months ended 31Β December 2008Β during March 2009.
For further information:
CashboxΒ PLC 01256 441000
David Auger, CFO
Threadneedle Communications 020Β 653 9850
Josh Royston/Graham Herring
SeymourΒ Pierce 020 7107 8000
Jonathan Wright
Fairfax I.S.Β PLC 020 7598 5368
Ewan Leggat
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