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22 Jan 2009 07:00
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SEPURA PLC
INTERIM MANAGEMENT STATEMENT
SepuraΒ plcΒ ("the Company"), a global leader in the design,Β developmentΒ and supply of TETRA digital radios, used predominately by the emergency services around the world,Β todayΒ issues the following Interim Management Statement. This statement, as required by the UK Listing Authority's Disclosure and Transparency Rules, refers toΒ the Company'sΒ trading results for the period 1 October 2008 to 21Β January 2009.
TheΒ BoardΒ of Sepura believesΒ that demand for the Company's products will continue to grow due to the ongoing rollout of TETRA networks around the world,Β theΒ continuingΒ demand from existing networks and the further strengthening of Sepura's position as a leading supplier of TETRA radio terminals.
Q3Β Trading: 1 OctoberΒ to 31 December 2008
International business
TradingΒ during the quarterΒ in the International businessΒ wasΒ in line with expectations.Β WeΒ sold into 50 countries, one of which was a new territory for us, withΒ significant sales inΒ Hungary,Β Sweden,Β andΒ Estonia.Β CustomersΒ during the quarterΒ representedΒ a diverse and robust mix of predominantly Public Safety end-users. The strong Euro continuedΒ to benefit revenueΒ and gross marginsΒ as the majority of our International sales are billed in Euros.
Of particular significance in the International businessΒ wereΒ the first wins in theΒ strategicallyΒ important German market. We have been successful in the first three tenders where the results have been announced - Niedersachen andΒ BremenΒ which wereΒ announcedΒ by the CompanyΒ in November,Β and Sachsen-AnhaltΒ which was confirmed in December. In total theseΒ contractsΒ representΒ 27,300Β terminals, of which we expectΒ 40% to beΒ deliveredΒ in theΒ finalΒ quarterΒ of this financial year.Β Tendering is ongoingΒ for contracts with otherΒ German states, and we continue to work closely with ourΒ GermanΒ partner, Selectric, to ensure we maximiseΒ theΒ opportunity in this critical market.
We have also receivedΒ a significant order fromΒ MalaysiaΒ for delivery in Q4Β as we continue to develop thisΒ important market.
UKΒ business
TradingΒ in theΒ UK market wasΒ alsoΒ in line with expectationsΒ for theΒ quarter, withΒ significant sales to three major surveillance customers, including the contract reported as delayed at the half-year.Β We continue to win orders andΒ makeΒ shipments to existingΒ UKΒ customersΒ who areΒ replacing theirΒ TETRA radios. In total,Β we have nowΒ receivedΒ replacement orders fromΒ 14Β customers and started delivery onΒ 12Β of these. To date,Β we haveΒ retained all of ourΒ customersΒ duringΒ thisΒ replacement cycle. We have also secured and delivered a major shipmentΒ to the Irish AmbulanceΒ Service, our firstΒ winΒ with this customer.
Β Current TradingΒ and Outlook
Trading in theΒ firstΒ three weeksΒ of JanuaryΒ remains in line with expectationsΒ and the outlook forΒ revenue and earnings forΒ theΒ yearΒ to 31 March 2009 remains unchanged from the half-year announcement.Β Revenue in theΒ UKΒ continuesΒ to come from police replacement business as well as sales to the Department of Health under the Airwave Ambulance contract. Major sales in the International business are expectedΒ to come fromΒ Germany,Β MalaysiaΒ andΒ Hungary. The Company expects its next report to shareholdersΒ to be theΒ PreliminaryΒ ResultsΒ AnnouncementΒ for the year ended 31 MarchΒ 2009,Β which it plans to issue during the first week of June. This will be followed byΒ the Company'sΒ Annual ReportΒ & Accounts,Β intended to be issued inΒ lateΒ June,Β andΒ theΒ AGMΒ which isΒ due to take place in July. A confirmatory announcement of the final dates for each of these will be made in due course.
For further information please contact:
Sepura plc Tel: 01223 876 000
Phil Nolan, Chairman
Gordon Watling, Chief Executive Officer
Steve Crowther, Chief Financial Officer
Powerscourt (Media Enquiries) Tel: 020 7250 1446
Keith Brookbank
CautionaryΒ Statement:
This Interim Management Statement contains certain forward-looking statementsΒ with respect to the operations, performance and financial condition of Sepura. By their nature, future events and circumstances can cause results and developments to differ from those anticipated. Nothing in thisΒ Interim Management StatementΒ should be construed as a profit forecast. No undertaking is given to update the forward-looking statements whether as a result of new information, future events or otherwise.Β
Notes toΒ Editors:
About Sepura
Sepura is a global leader in the design,Β developmentΒ and supply of TETRAΒ (TErrestrial Trunked RAdio) digital mobile radios, used predominantly by theΒ emergency services around the world as well as in the military, transportation,Β utilities, localΒ government and commercial sectors.
The TETRA standard was developed mainly for public safety professionals. ItΒ facilitates reliable radio communication at all times and offers secure voiceΒ and data transmissions - free from the possibility of eavesdropping.Β Sepura has rapidly expanded across the world with a network of more thanΒ 90Β regional partners that sell and support locally its market-leading products inΒ over 90 countries. It is now the market leader in more than 25 countries.
Sepura's development expertise is focused entirely on TETRA radio terminals, andΒ the Company offers the broadest range of TETRA products available. It is theΒ market leader in the supply of surveillance and other specialist TETRA radiosΒ and accessories.
Based inΒ Cambridge,Β EnglandΒ employing some 300 employees, Sepura was admitted toΒ the Official List of the London Stock Exchange on 3 August 2007.
For further information please visitΒ www.sepura.com
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