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30 Mar 2012 13:08
Weare2020 plc
(the "Company" or "Group")
Trading Update
30 March 2012
Weare2020plc, the digital marketing group, provides a trading update ahead of the publication of its preliminary results to 31 March 2012.
Our interim results to September 2011 showed significant progress for the Group. Despite a decline in gross profit as a result of the consolidation of the operations in Nottingham and the impact of the economic environment on 2020 Agency, the Company posted PBT of £1.01m on a gross profit of £15.25m.
A number of clients have deferred their expenditure decisions which has affected 2020 Technology, our e-commerce project implementation division, in particular. The Group expects to report revenues of £38m. On the positive side 2020 Dialogue, our lead generation and data and risk business continued to perform well and above expectations. The Group's adjusted PBT has also been affected by a requirement to make a one-off provision in relation to certain fees in dispute amounting to £200,000. As a result the Group expects to report an adjusted PBT of £3.1m.
The Group expects to publish its preliminary results in the week beginning 25 June 2012.
Enquiries:
Weare2020 plc
Keith Sadler 079122 74522
COO, Group Finance Director
Cenkos Securities plc
Ivonne Cantu (Nomad) 020 7397 8980
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