Last checked at 10 Nov 2017 07:00
REACT GROUP PLC
10 November 2017
Trading Statement
The Board of React Group PLC, the specialist provider of rapid response deep cleaning and emergency decontamination services, makes the following trading statement for the year ended 30 September 2017.
The unaudited numbers (based on management accounts) were very disappointing, with revenue of around £2.65m and a pre-tax loss of around £400,000. This loss contains circa £30,000 resulting from the closure of EPUK, which was announced in December 2016, and some other one-off other costs including those arising from the restructuring of the Board (see previous RNS notifications on 11 September, 18 September, 2 October and 27 October).
The Company's cash position at 30 September 2017 was £629,000.
Over the past few months the new management team has put in place a number of significant cost savings and better overall financial controls. Trading in the second half has started to show signs of improvement and the new team is being invited to tender for more contracts than in the past.
REACT Group plc
Gill Leates - Chairman 07799 662642
SPARK Advisory Partners Limited (NOMAD)
Neil Baldwin 0113 370 8974
Mark Brady 0113 379 8971
Whitman Howard Limited (Broker)
Nick Lovering 0207 659 1224