24 Jun 2014 07:00
24 June 2014
Tangent Communications plc ("Tangent" or the "Company")
AGM Statement
Tangent announces that at the Company's AGM to be held later this morning, the following trading update will be given. The AGM is at 10:00 a.m. at the offices of Travers Smith LLP, 10 Snow Hill, London EC1A 2AL.
Our online print business continues to grow in size and importance to the Company. In the first quarter, 37% of group sales were taken online, up from 34% as reported for the full year 2013-14.
We have continued to redefine and downsize our agency business; this has resulted in lower profits in Tangent Snowball in the first quarter. We are re-channelling our people and focusing them into our fast growing online businesses.
printed.com sales and customer numbers continue to climb and performance is ahead of our expectations. printed.com's summer launch into the photographic printing market will add to the extensive range on offer.
goodprint's same-day London service is gaining momentum and the newly launched luxury business card range has been well received. These enhancements are starting to generate improved conversion rates on the goodprint website and better engagement with our customers.
Ravensworth benefits from the busy property market and has now launched a fully transactional website offering a photo editing service which is being marketed to its wide client base.
T/OD performed well in the first quarter and is working closely with goodprint towards the launch of London specific services and niche products.
Overall we anticipate further progress in the current year towards generating more revenues online.
For further information, please contact:
Tangent Communications plcTimothy Green - Chief Executive: 020 7462 6101Seema Paterson - Corporate Development: 020 7462 6101
Canaccord Genuity Limited - Nominated adviser and broker
Bruce Garrow / Emma Gabriel: 020 7523 8350