Tissue Regenix Group Regulatory News (TRX)

6 Jan 2005 07:00

Torex Retail PLC06 January 2005 6 January 2005 TOREX RETAIL PLC TRADING UPDATE Torex Retail plc ("Torex Retail" or "the Group"), the UK's market leader inretail IT solutions, is pleased to announce that following the close of its yearend on 31 December 2004, it expects to report pre-tax profits ahead ofexpectations when it announces its preliminary results in February 2005. This reflects strong trading from all areas of the Group. The success of theGroup in the second half of 2004 is based upon sales of Group software productswith associated services, particularly with new contract wins for its marketleading EpoS product LUCAS. This has reinforced the changing business modelexperienced in the first half with increased software licence sales and lowerhardware revenues contributing to improved operating margins. In addition atight control on working capital has resulted in a strong cash inflow fromoperating activities. The integration of Alphameric Retail has commenced and initial findings areconsistent with pre-acquisition due diligence and the strategic rationale forthe transaction. In addition, new opportunities are being identified which isvery encouraging for 2005 and beyond. Rob Loosemore, Chairman of Torex Retail plc, commented: "I am delighted with the progress we have made in our first year as a publiccompany both in terms of financial performance and strategic development.Strong trading, particularly in the second half, together with the acquisitionof Alphameric's Retail Division provides a tremendous platform and momentum fororganic growth in 2005 and beyond. The pre-tax profits will be ahead ofexpectations which continues the long established tradition of the seniormanagement team, of not only doing what we say we will do but exceeding it." Enquiries: Torex Retail plc Citigate Dewe Rogerson Mark Pearman, Chief Executive Ginny Pulbrook / Seb Hoyle / Freida Moore Richard Thompson, Finance Director Telephone: +44 (0)20 7638 9571 Telephone: +44 (0)870 050 9900 Notes to Editors: Torex Retail, a leading European retail solutions business, floated on AIM inMarch 2004. The business is an independent supplier of electronic point of sale("EPOS") solutions and services and productivity tools to high street,convenience and petroleum retailers with an installed base of some 50,000 EPOSlicences across Europe. It has a broad base of blue-chip clients and employs700 staff in UK, Germany, Belgium, Holland and Eire. This information is provided by RNS The company news service from the London Stock Exchange