CBUY.L Regulatory News (CBUY)

1 Aug 2007 07:01

@UK PLC01 August 2007 Embargoed until 07:00 1 August 2007 @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. Whilst turnover for the year is expected to be below market expectations,continued tight management of costs and cash means that the pre-tax losses andcash outflows are expected to be in line. There has been progress in the discussions with major suppliers to the NHSmarket which were referred to in the AGM statement on 24 May 2007, and astrategically important project is at proof of concept phase. We expect to be ina position to give further updates on the development of the NHS market in ourinterim announcement. The Local Authority market continues to be very slow, anddevelopment of our NHS business has not yet been able to compensate for this. These opportunities in the NHS continue to underpin our confidence in the longterm prospects for @UK. Interim results for the six months to 30 June 2007 will be announced at the endof September. For further information please contact: @UK PLC +44 (0) 118 963 7000Grant Oliver, CEOJohn Aiken, Finance DirectorShore Capital +44 (0) 20 7408 4090Dru DanfordSmithfield +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 100,000 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