Ekf Diagnostics Regulatory News (EKF)

15 May 2006 10:26

Immediate Release: 15 May 2006 International Brand Licensing plc ("IBL" or the "Company") AGM Statement At today's AGM, Chairman Adam Reynolds commented:"In my statement of 19th April 2006, I was pleased to report a substantialturnaround in the Company's fortunes by producing a full year profit for thefirst time in the Company's history.I am now delighted to announce to you that the current year has startedextremely well with the first four month's sales being around 25% higher thanthe corresponding period last year, which in itself was a record year. Inaddition, the Board is continuing to drive down fixed costs and is activelylooking at ways of increasing its gross margins through both manufacturing anddistribution efficiencies.It is both reassuring and rewarding that sales of the official England Admiralreplica kit are still outperforming all our expectations and that the Companyis further benefiting from its focus on cost savings since the Board wasrestructured last year.Last week, the Company announced the sale of its Admiral trademarks for theGreece and Cyprus territories for a cash consideration of ‚£775,000, reflectingthe increasing value of the Admiral brand globally. Whilst expanding thegeographical reach of the Admiral brand remains at the core of the Company'sstrategy, our over-riding aim is to maximise shareholder value which we firmlybelieve this transaction achieved.We are currently in discussion with several potential partners regarding thesigning of new long term license agreements in regions where we are currentlynot represented. We are confident that the number of territories in which theAdmiral brand is distributed, currently 22, can be substantially increased inthe medium to long term, ensuring continued strong growth in the business goingforward.Your Board is delighted with the progress the Company has made during the yearto date and we remain confident that we will continue to improve shareholdervalue throughout the year ahead."For Further information:Adam Reynolds/Paul FoulgerInternational Brand Licensing020 7823 1733ENDINTERNATIONAL BRAND LICENSING PLC