CBUY.L Regulatory News (CBUY)

1 Feb 2008 07:00

@UK PLC01 February 2008 Embargoed till 07:00 1 February 2008 @UK PLC ("@UK") Trading Update and Notice of Results @UK PLC (AIM:ATUK), a leading eMarketplace provider of eCommerce andeProcurement solutions, today issues an update on trading. Continued tight management of costs and cash means that pre-tax losses for theyear ended 31 December 2007 are expected to be in line with, and cash outflowsbetter than, market expectations. Net cash at the year end stood at £1.8m.Turnover for the year is expected to be below market expectations. Following the contract win with NHS Supply Chain which we announced in October2007, @UK has made progress in developing a sales pipeline with NHS Trusts andsuppliers. The rate at which sales are being closed in the NHS is slower than wehad anticipated and the Local Authority market continues to be very slow. As aresult it is likely that the results for the year ending December 2008 will bebelow market forecasts. @UK will announce its Preliminary Results for the year ended 31 December 2007 atthe end of March 2008. For further information please contact: @UK PLC +44 (0) 118 963 7000Grant Oliver, CEOJohn Aiken, Finance Director Shore Capital and Corporate Limited - Nominated Adviser to the Company +44 (0) 20 7408 4090Dru Danford Smithfield +44 (0) 20 7360 4900Tania Wild Notes to Editors: @UK is one of the UK's leading eMarketplace providers. @UK's software provides asecure internet eMarketplace enabling buyers such as local authorities, schoolsand hospitals to buy online from commercial suppliers ranging from largecorporations to small to medium enterprises (SMEs). It works by linking the financial systems of bodies such as local authorities,hospitals, schools and large corporations to all their suppliers. This allowsbuying and selling to take place with no paperwork and no chance oftransposition errors, achieving major savings throughout the supply chain. @UK provides eCommerce to thousands of suppliers of every size, frommultinational businesses to "one man band" window cleaners and plumbers and thenumbers are growing daily. Even the smallest suppliers can now tradeelectronically with customers creating electronic orders and more importantlyraise electronic invoices for all their customers. @UK PLC also offers services to new businesses, including incorporation, companysecretary services and filing annual returns. Over 140,000 companies have beenincorporated using @UK's online company formation service. @UK joined AIM in December 2005, raising £8 million before expenses at an issueprice of 60p. In May 2006 it purchased Coding International Limited, its firstacquisition since becoming a quoted company, @UK is included in the Software andComputer Services Sector (9530). For further information please visitwww.ukplc.net. This information is provided by RNS The company news service from the London Stock Exchange