30 Aug 2011 07:00
30 August 2011
Tangent Communications plc ("Tangent" or the "Company")
AGM Statement
Tangent, announces that at its Annual General Meeting, to be held at 9.00am today, Piers Caldecote, Chairman of Tangent, will make the following statement:
"Trading in the first five months of the current financial year is in line with management expectations. Profits are slightly ahead of performance in the same period last year, albeit with lower revenues which exclude the one off General Election campaign contribution. Group prospects in the seasonally lower second half period remain promising.
As anticipated, net profit margins have continued to improve across the business. The project, license and consultancy fees from the merged Tangent Snowball marketing business have increased now representing over 70% of its revenues. Print revenues are likely to be lower than 2010 however the margin contribution will be higher as diminishing revenues from volume direct mail are replaced by higher value short run products and reduced costs of production".
For further information, please contact:
Tangent Communications plc
Timothy Green 020 7462 6100
Collins Stewart
Matt Goode / Ileana Antypas 020 7523 8350
About the Company:
Tangent is a leading integrator of technology and marketing strategy, with industry leading digital print facilities. Tangent employs 230 people across four locations in London, Newcastle, Cheltenham and Melbourne and is traded on AIM (AIM: TNG).
For more information please visit www.tangentplc.com