Sign In
17 Feb 2010 07:00
17 February 2010
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 from 1 October 2009 to 16 February 2010.
Business Performance
We reported at the end of November that there were signs that our markets had stabilised and that there were some initial signs of increased activity levels although these had not yet translated into increased levels of orders.
This continues to be the case with non-recurring revenues running at similar levels to the second half of the previous financial year.
The Group's recurring revenues, which relate mainly to contracted software licences and hosting charges, and which accounted for 75% of total sales in the year to 30 September 2009, remain strong and continue to cover the day-to-day cash operating expenses of the business.
Financial Position
There has been no material change to the Group's financial position since 30 September 2009. The Group continues to have a strong, debt-free balance sheet.
Outlook
We continue to expect trading levels to increase when the economy generally shows signs of sustainable improvement. With our strong recurring revenues, carefully managed cost base and new product releases we remain cautiously optimistic about the outlook for the rest of the year.
For further information please contact:
Julian Wassell Toby Mountford
Chief Executive Citigate Dewe Rogerson
0114 2622007 020 7638 9571
07710 356611
www.edp.co.uk
Follow the stocks
