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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Adwalker | LSE:AWR | London | Ordinary Share | IE00B00MRN72 | ORD EUR0.02 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.07 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
30 September 2008 Adwalker Plc ("Adwalker" or "the company") Trading Update As stated in the announcement on 29 August 2008, the Company is currently operating within its existing bank facilities and in order to continue to operate within these facilities the Company needs to grow its revenue base significantly. However, the level of income generated in September was significantly lower than management expectations. The expected near-term growth in income in the Company's core business, the leasing of the Adwalker platform, is heavily dependent on the advertising budgets of its global media partners. The uncertain economic environment and the potential adverse effect this may have on the timing and level of spending of Adwalker's customer base makes it very difficult for the Directors to forecast the level of future income with any degree of accuracy. While the Directors remain optimistic that the effect of these factors will be limited in the medium term and the shortfall in income experienced in September may be recovered in future months, the Directors intend to commence discussions with a number of parties, including the Company's bankers, with a view to securing the necessary working capital so that the business can continue to meet its obligations as they fall due. In the event that there is insufficient growth in near-term income and Adwalker is unsuccessful in securing additional bank facilities and/or raising the necessary finance then there will be a material adverse effect on the Company's financial position and operations. Enquiries: Adwalker plc Tel: +353 (1) 866 9000 Simon Crisp simon@adwalker.com John East & Partners Limited Tel: 020 7628 2200 Simon Clements/David Worlidge END
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