23 Jan 2012 07:01
JSJS DESIGNS PLC
("JSJS" or "the Company")
(AIM: JSJS)
Q1 Profitability
Pursuant to the Company's Results for the Year Ended 30 September 2011 released earlier today, the Board of JSJS, the provider of innovative home automation technologies, is pleased to announce that the pattern of growth set towards the end of the last financial year has continued and reports a maiden first quarter profit for 2012.
In the first three months of the new financial year, a period which has seen the Company's portfolio of eco-money household applications move from development to market phase and receipt of the first licence fee order worth £300,000 from Electrium Sales Limited, the Board reports a Q1 profit before tax of £71,622 (Q1 2011: £(151,522)) on Revenues of £678,979 (Q1 2011: £1,583,475 - a period of low margin due to relationship building). The 2011-2012 financial year has started positively and today's move into profitability, coupled with a stronger balance sheet and product portfolio, positions the Company well for the future.
Furthermore, Q1 has seen the extension of the JSJS product portfolio into eco-and-heating applications, aimed at delivering utility bill savings for consumers in a climate of rising energy prices. The Company expects to announce later this financial year further product launches within the electrical, lighting, heating, plumbing and eco sectors, supported by further development of JSJS' iPhone/Android and web applications, which enable consumers to control their JSJS household applications anywhere and at any time.
Commenting, Mike Lord, Chairman and CEO, stated:
"Given that this is our first full quarter with a product range to sell rather than just market, our profitability status is a strong result. The Company has invested significantly in developing distribution channels in the period under review with an electrical wholesale sales team now established and expected to deliver further sales throughout Q2. As highlighted in today's earlier financial results statement, Q1 saw the launch of the Company's products into B&Q stores, both under Siemens and the JSJS' own LightwaveRF™ brands, along with receipt of the first license fee order worth £300,000. It is still early in our market phase so caution is advised with regard to future trading. However, the Company is now able to establish a new customer pipeline and a base of regular ordering, which it hopes will deliver further positive results later in the financial year."
Contacts: | |
JSJS Designs Plc | www.jsjsdesigns.com |
Mike Lord, CEO | +44 (0) 1902 500 562 |
WH Ireland Limited | www.wh-ireland.co.uk |
Marc Davies / Mike Coe (Corporate Finance) | +44 (0) 117 945 3470 |
Sebastian Wykeham / Ruari McGirr (Corporate Broking) | +44 (0) 20 7220 0473 |
Yellow Jersey PR | www.yellowjerseypr.com |
Dominic Barretto Harry Fielder | +44 (0) 7768 537 739 +44 (0) 7747 788 221 |
About JSJS Designs
JSJS Designs develops home automation systems to enable consumers to remotely operate everyday household appliances such as lighting, heating, air conditioning, door entry, audio, video and security. The Company is targeting the potentially significant mass market as consumers increasingly seek to "retro-fit" smart home technologies into their homes and, in the longer term, the "extra care" residential market where there is demand from the providers of such schemes to enable independent living for the elderly and physically immobile.