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17 Feb 2012 07:00
17 February 2012
Electronic Data Processing PLC (EDP)
Interim Management Statement
EDP, an IT solution provider to the UK wholesale distribution industry and a supplier of Sales Intelligence software more widely, today publishes an Interim Management Statement covering the period from1 October 2011 to 16 February 2012.
Material Events and Transactions
There were no material events or transactions during the period under review.
Business Performance
Activity levels within the business have been at broadly similar levels to the last financial year. Trading conditions have remained challenging due to macro economic conditions in the UK which continue to cause a degree of uncertainty for our customers.
Financial Position
Contracted recurring revenues remain strong representing 81% of turnover during the period.
EDP continues to have a strong, debt-free balance sheet with cash balances of £5.1 million at 16 February 2012.
Outlook
Our business model is strong. With our substantial recurring revenues, carefully managed costs and a profitable, debt-free business we are confident that we are well placed to ride out current uncertainties.
For further information please contact:
Julian Wassell Toby Mountford
Chief Executive Citigate Dewe Rogerson
0114 2622010 020 7638 9571
07710 356611
www.edp.co.uk
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