Sign In
27 Apr 2015 07:00
RED24 PLC
(the "Group", "Company" or "red24")
Trading Update
red24, the crisis assistance company, is pleased to announce that trading during the latter part of the year to 31 March 2015 continued to improve, particularly in the Group's consultancy and special risk areas. As a result, the Board considers that the Company's financial performance in the year to 31 March 2015 will be ahead of Board expectations. The previously anticipated adverse impact on results arising from the loss of a major client earlier in the year (as announced on 18 August 2014), was successfully mitigated as the Group worked hard to reduce costs and secure new contracts with both existing and new clients.
There has also been a significant increase in the year end cash balance with gross cash at £3.4M and net cash at £3.2M, achieved through improvements in working capital management and the better than expected financial performance.
The current financial year has started well with new contracts with insurers in both the product safety and special risk areas. The enhanced travel tracker product has been well received both by existing clients and by a number of new clients and we anticipate growth in sales of the product in the coming year. Recent sales in Germany and Australia have also exceeded expectations and trends indicate this is likely to continue.
Enquiries:
Red24 plc Tel: 0203 291 2424
Simon Richards, Chairman
Maldwyn Worsley-Tonks, Chief Executive Officer
finnCap Tel: 0207 220 0500
Julian Blunt, Corporate Finance
Tony Quirke, Corporate Broking
Yellow Jersey PR Ltd Tel: 07768 534641
Philip Ranger, Kelsey Traynor
About red24
Red24 is a crisis assistance company that provides a range of security and business support services, offering preventative and reactive advice to help organisations and individuals to avoid or manage security and business risks to themselves, their families and their businesses. Its products and services are distributed through leading international financial service companies.
Follow the stocks
