Ithaca Energy Regulatory News (ITH)

24 Sep 2007 07:01

ITIS Holdings PLC24 September 2007 AGM Statement The following statement will be read by Sir Trevor Chinn, Chairman of ITISHoldings plc ("ITIS" or the "Company"), at the AGM to be held at the offices ofInvestec, 2 Gresham Street, London, EC2V 7QP at 2.30pm today, 24th September2007. "All areas of our business have traded strongly in the first five months of theyear and we therefore expect to report our best ever first half year results.We expect trading to remain robust for the rest of the year across all ourbusiness areas. Our contract with the Department for Transport to provide them with historicdata finishes in February 2008 and we are working hard towards replacing therevenue and profit associated with this contract in the next financial year.However, based on the information previously provided, our data will continue toform the base line for the local Public Service Agreement congestion targetsuntil 2011. Our international business continues to develop at a fast pace headed by Dr GaryGates who was appointed to the ITIS Holdings plc Board on 23rd July 2007. Inparticular following the successful launch our Cellular Floating Vehicle Data(CFVD) in Australia with Optus who are part of the Singtel Group, (one of Asia'sleading communications groups) we are pleased to announce that we are workingwith Singtel on a CFVD project in Singapore. Interest remains high in ourtechnology backed by our unrivalled experience and success in the commercialtraffic business. We continue to receive enquiries from all over the world andare at various stages of negotiation in a number of new countries. The Board believes that we have a strong and sustainable platform to continueour profitable growth both in the UK and overseas and we remain confident of ourstatus as a world leader in the provision of real time traffic information." - ends - Contact: Stuart Marks, Chief Executive, ITIS Holdings plc - 0161 929 5788 Ginny Pulbrook, Citigate Dewe Rogerson - 0207 638 9571 This information is provided by RNS The company news service from the London Stock Exchange