Last checked at 14 Sep 2010 07:00
14 September 2010
Cashbox plc
(the "Company")
Cashbox Signs Contract with WH Smith subsidiary, UNS Hospitals Ltd
Trading Update
Cashbox plc is pleased to announce that it has signed a five year deal with WH Smith subsidiary UNS Hospitals Ltd (UNS), the UK's leading hospital shops operator. UNS employs 600 staff, and has 72 stores operating in 62 hospitals throughout Britain. As part of the contract, Cashbox will install ATMs at 4 UNS sites immediately and then work alongside UNS to identify further opportunities across their store network. All of the ATMs installed with UNS will be on a free to use basis.
This contract comes following a series of additional wins with a variety of clients which have added around a further 140 sites to the Company's installation pipeline, including both free to use and surcharging machines. The wins come from a mix of new customers, such as Ascot Racecourse and Wear Inns as well as extended sites at existing clients Mitchells and Butlers PLC and Greene King PLC.
The Company also announces that, following its year end of June 30th, it expects to announce full year results with revenues in the region of £6.7m, a loss before tax of less than £2.4m and an EBITDA loss no greater than £400k. The year's results, which represent a significant improvement over the prior year, were impacted by the loss to administration of First Quench Retailing, the owners of the off licence Thresher, for whom Cashbox operated over 300 ATMs.
During the current financial year the Company has continued with its focus on high footfall sites. This has resulted in a strong performance from the core estate which, together with the impact of new contract wins, has the company enjoying significantly higher transaction volumes than the prior year. The result of this is that the Company is pleased to report that the performance since the start of the new financial year has been EBITDA positive.
Ciaran Morton, Chief Executive, of Cashbox: 'We're delighted to have signed this contract with UNS. The high footfall for these ATMs, as well as the fact that they are free to use, leads us to confidently expect them to generate significantly high volumes of transactions per month."
'With the loss of Threshers now behind us and the continuing strength of our new sales pipeline, we are confident that the Company will continue its positive EBITDA performance throughout the year."
For further information:
Cashbox PLC 01256 441 000
Ciaran Morton, Chairman and CEO
Threadneedle Communications 020 653 9850
Josh Royston/Graham Herring
Seymour Pierce 020 7107 8000
Jonathan Wright
Fairfax I.S. PLC 020 7598 5368
Ewan Leggat