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Share Name | Share Symbol | Market | Type |
---|---|---|---|
NeXGold Mining Corp | TG:TRC | Tradegate | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.556 | 0.499 | 0.563 | 0.00 | 16:12:37 |
RNS Number:5438N Transcomm PLC 15 July 2003 Trading Update for the six months ended 30 June 2003 and announcement of new project commitment from the Metropolitan Police Current Trading Network service revenues (NSR) generated from our wireless data network remained strong during the first half with average data traffic per unit up 23% from that achieved during the corresponding period last year. Average revenue per unit ("ARPU") at #27.02 (#27.86 for the six months to 30 June 2002) was encouraging despite the seasonal first quarter fall in NSRnetwork service revenues following the Christmas break. Churn, another key indicator for the business, remained consistent with expectation at 4.1% for the six month period against a figure of 4.3% achieved during the first six months of 2002. The deployment of the field service application developed in conjunction with our partners Astea and Progenie for Securicor Cash Services has now been completed. The OEM Modem developed in conjunction with CNI and successfully integrated as part of the Securicor application has been further developed to create a new vehicle mounted modem to be named the TVM3. Over the course of the next 6 weeks trials of this new product will commence with our customer TNT, one of the markets leading express carriers, which if successful will result in commercial sales from late 2003. In our recent annual statement, we announced the intention to upgrade the software platform of our Mobitex network during 2003. This upgrade is now substantially complete and, through careful management, service to our customers throughout the upgrade process has been largely unaffected. The benefits of this upgrade will enable the enhancement of switching capacity, reduction in network recovery time and improvement in overall network resilience. As a result of this upgrade, our cost base associated with operating the network has fallen by approximately 18% (annualised #400k) below that incurred during 2002. This upgrade has enabled the Group to reduce its labour requirement further, though termination costs associated with thise reduction of our operating overhead has impacted earnings during the first half. The Group has continued to focus on strengthening its balance sheet position and is pleased to report net cash reserves at the end of June 2003. This improved cash position will enable the company more effectively to manage the working capital pressures associated with key projects such as the emergency services project detailedproject detailed below scheduled for the second half. Emergency Services Our successful work with the emergency services continues, in particular the development of new access services for the Metropolitan police to facilitate improved operational responsiveness to incidents. We are pleased to announce that the Group has now secured commitments from the Metropolitan Police for Phase 5 of this development to enhance connectivity resilience to our network and further support the expansion of services for up to a maximum of 3,000 vehicles. This commitment, we anticipate will result in a revenuerevenue value of approximately #3.6m over the course of the next 3 years and will further consolidate our position within the emergency services sector and create one of the worlds leading emergency services mobile data systems. Prospects The Group continues to build on the successes achieved during 2002. The effort and cost incurred during the first half to lower the Group's overhead base will enhance the Groups trading results during the second half year. Whilst at the current time wWe are optimistic that our key indica tors of ARPU and churn will remain consistent for the year as a whole, although the pressure from alternative network offerings remains a threat. Having realigned resources to support further those sectors where our resilience and network integrity are paramount, we remain confident that we will be able to deliver further successes within these key sectors such as the emergency services. In addition, we continue to progress our intention to create closer alliances with key partners both at an operational and strategic level in order to provide a broader range of combined services at competitive prices. Interim Results The interim Statement will be published on 21August 2003. Turnover for the six months ended 30 June 2003 will be approximately #6.3m. After costs associated with the further staff reductions of approximately #100k, the Company expects to report a profit before tax of not less than #200k for the half year. This information is provided by RNS The company news service from the London Stock Exchange END TSTFGGMNNDDGFZM
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