Uvenco Uk Regulatory News (UVEN)

Snacktime plc

("SnackTime" or the "Company")

Trading Update May 2012

SnackTime, the third largest vending business in the UK, announces that it expects for the year ended 31 March 2012 subject to audit adjustments, to report revenue in line with expectations and EBITDA pre-exceptionals slightly below expectations. The re-organisation of the Company's property portfolio and associated provisions is expected to give rise to an exceptional profit, which will be disclosed separately in the Company's audited financial statements for the year ended 31 March 2012.

SnackTime's 'cash at bank' position improved in the second half of the year and the Company remains well within its banking covenants. In addition the Company's Snack in The Box franchise division sold a record number of franchises last year.

Blair Jenkins, CEO of SnackTime commented:

'Despite the UK economy being in recession and trading conditions within the vending industry being at their most difficult within living memory, SnackTime is confident about its prospects for FY 2013. The Company has rationalised approximately 35% of the workforce following its acquisition of Vendia in 2010, regrettably most of the £2.5M in salary savings arising from this and other efficiency initiatives have been offset by high input inflation and VAT rises over the last 18 months. SnackTime is well placed to weather the current economic conditions and to emerge from the recession in a stronger competitive position.'

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