19 Feb 2015 07:00
For Release
7.00am Thursday 19 February 2015
GRAFENIA PLC
(THE 'COMPANY' OR THE 'GROUP')
TRADING UPDATE
Post the last market update, trading has been slightly softer in the Group's domestic Printing.com channel. In addition, the weakening of the Euro against sterling is reducing the Company's sterling receipts from Euro Zone operations.
As a result, the Board anticipates pre-tax profit for the current financial year being slightly below management expectations (albeit above that of last year) and accordingly slightly below the bottom end of current market estimates.
When reporting our Interim Results we set out two key objectives, to be achieved by the end of this financial year, for the Group's new initiatives, Nettl and MarqetSpace.
For Nettl, the Group's new franchise formula, the objective of having 25 studio locations. The Board believes that this objective will be met.
In the case of MarqetSpace, the Group's new trade division, the objective set was to reach an annualised monthly run rate of £1 million of revenue. The Board also believes that this objective will be met.
The Company intends to provide a "pre close trading statement" at 7:00am on Tuesday 7 April 2015.
For further information:
Grafenia plc
Tony Rafferty (Chief Executive) 07966 517 336
Alan Roberts (Finance Director) 0161 848 5713
N+1 Singer
Richard Lindley / James White 020 7496 3000