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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Alexandra | LSE:AXD | London | Ordinary Share | GB0000143353 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 5.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMAXD RNS Number : 9128L Alexandra PLC 14 May 2010 Alexandra PLC ("Alexandra" or "the Group") Trading Update In the fourteen months to 31 March 2010 the Group generated revenue of approximately GBP72 million (twelve months to 31 January 2009: GBP74.7 million). Revenue has been impacted by the economic downturn which has resulted in a very challenging and competitive environment with both existing and potential customers delaying expenditure and seeking lower prices. In addition, the reduced revenues, exposure to the strength of the US dollar and the delivery of lower margin contracts won in previous years all contributed to a fall in the gross margin from the position reported for the six months to 31 July 2009. The impact of lower revenue and gross margin was partially mitigated by reduced overheads following a significant reorganisation and cost reduction programme within the Group. However, some key proposed actions have not yet been undertaken due to the financial constraints imposed on the Group. The Group has continued to incur significant exceptional professional fees associated with the refinancing and restructuring of the Group. The Board continues to drive change at the Group and has undertaken a restructuring of the sales/customer service and supply chain elements of the Group which has contributed to improved customer retention. In addition GBP2.3 million of new business has been won so far in 2010. The Group's marketing capability has been enhanced and new branding was launched at an industry show in April. Sales of redundant stock since 31 July 2009 have exceeded GBP1.6 million and additional sales are in the pipeline. Further initiatives in relation to training, property and the Group's supply chain are being planned. Although the trading performance in the fourteen months to 31 March 2010 was disappointing, the Board believes that provided the planned equity fundraising is completed the Group will be well placed to implement the further initiatives referred to above and to seek to capitalise on the opportunities that exist within its market. This Trading Update has been prepared solely in compliance with the Disclosure Rules and Transparency Rules of the UK Financial Services Authority and is not audited. Statements in this Trading Update reflect the knowledge and information available at the time of its preparation. Certain statements included or incorporated by reference within this Trading Update may constitute "forward-looking statements" in respect of the Group's operations, performance, prospects and/or financial condition. By their nature, forward looking statements involve a number of risks, uncertainties and assumptions and actual results or events may differ materially from those expressed or implied by those statements. Accordingly, no assurance can be given that any particular expectation will be met and reliance should not be placed on any forward-looking statement. Additionally, forward-looking statements regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. No responsibility or obligation is accepted to update or revise any forward-looking statement resulting from new information, future events or otherwise. Nothing in this Trading Update should be construed as a profit forecast. This Trading Update does not constitute or form part of any offer or invitation to sell, or any solicitation of any offer to purchase any shares in the Company, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contract or commitment or investment decisions relating thereto, nor does it constitute a recommendation regarding the shares of the Company. Past performance cannot be relied upon as a guide to future performance. -Ends- Enquiries: +------------------------------+------------------------------+ | Alexandra plc | 01454 876 003 | | Tim Gifford, CEO | | +------------------------------+------------------------------+ | Arden Partners plc | 020 7614 5900 | | Richard Day, Fred Walsh | | +------------------------------+------------------------------+ | | | +------------------------------+------------------------------+ | Evolution Securities | 020 7071 4300 | | Tim Worlledge, Adam Lloyd | | +------------------------------+------------------------------+ | | | +------------------------------+------------------------------+ | Pelham Bell Pottinger | 020 7337 1521 | | Charles Goodwin | | +------------------------------+------------------------------+ This information is provided by RNS The company news service from the London Stock Exchange END TSTAJMRTMBJBBRM
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