We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Lateegra Gold Corp Com | TSXV:LRG | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0 | - |
RNS Number:6325U Lorien PLC 26 January 2004 26 January 2004 Lorien Trading update Lorien plc, the IT Resourcing and Specialist Services group, today released a trading update ahead of its preliminary results for the year ended 30 November 2003, which will be issued on 3 March 2004. Trading update Resolution IT Services The Group's interim results, announced in July 2003, referred to ongoing investment of #0.3m in a series of initiatives aimed at increasing the value of our services to customers. This investment primarily comprised start-up costs in respect of Resolution IT Services, the Group's IT project management business. Although Resolution incurred further losses in the second half of 2003, the level was significantly reduced to #0.1m with a positive contribution being achieved for the first time in November. The improved trading performance has continued into the new financial year and, with several new contract wins, the Board anticipates Resolution will make a positive contribution in the first half of 2004. Preliminary results The Board anticipates that the Group's profit before tax (pre-exceptional charge) for the year ended 30 November 2003 will be not less than #0.8m (6 months to 31 May 2003: #0.2m; 6 months to November 2003: #0.6m). Exceptional charge In February 2002, the Group disposed of its Consulting operations for #4.5m. At the time, it was considered that the transaction would be earnings neutral following the removal of #1.0 million of Central costs, the most significant of which related to property, staff and finance charges. Although the Group has been successful in delivering the savings in respect of staff and finance charges, the commercial property market in the South-east remains very difficult and we have yet to dispose of the Consulting property in Chertsey, which remains vacant. As a consequence, the Board no longer considers the provision which was made at the time of the disposal to be sufficient to cover potential future liabilities in respect of rent, rates and service charges. The preliminary results will, therefore, include an exceptional charge of #1.25m. The Board believes that this charge represents the maximum potential future liability and hopes that an earlier disposal can be achieved. If an early disposal is achieved the surplus provision would be released at that time. Outlook The Board has been encouraged by the performance of its Resourcing business over the second half of 2003, with activity levels increasing by over 15% compared to the first half of the year. This improvement has continued into the current financial year with trading volumes a further 3% ahead of the year-end position. With trading in our Services division remaining broadly constant over the second half of the year, and the positive contribution now being made by Resolution, the Board anticipates the positive momentum will continue into 2004. For further information, please contact: Lorien plc Christopher Hinton, Group Finance Director 0161 888 2503 Citigate Dewe Rogerson 020 7638 9571 Patrick Toyne Sewell This information is provided by RNS The company news service from the London Stock Exchange END TSTKGGZMFVNGDZM
1 Year Lateegra Gold Corp Com Chart |
1 Month Lateegra Gold Corp Com Chart |
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions