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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Cartucho | LSE:CTGP | London | Ordinary Share | GB00B0R2GC21 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 3.75 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:2502M Cartucho Group Ltd 17 November 2006 Press Release 17 November 2006 Cartucho Group Limited ("Cartucho" or "the Company") Trading Update Directorate Changes Further to its statement made on 12 October 2006 Cartucho, a developer and manufacturer of ink refill kiosks, is pleased to announce the recommencement of installations with the Company's major customer in the Unites States. The remainder of the roll-out will take place during 2007, but to confirm its continued commitment to Cartucho, the Company's major US customer has approved commissioning of 31 kiosks, which have been successfully installed over the last two weeks with a further 12 planned for commissioning before the end of the 2006. Both parties remain committed to the completion of the full contractual kiosk roll-out during 2007 subject to a sustained improvement in the average refill rates of installed kiosks over a reasonable time period, certain upgrades being completed and the implementation of a new service and support model being operated in all new markets. The Company is also pleased to announce that the improvements to service and support levels have started to have an impact and whilst there is still much to be done across the entire portfolio of installed markets, in 5 regions there has been a marked improvement in service levels and customer satisfaction. A preventative maintenance program has been established which will enable upgrades and component improvements to be made to all kiosks in a time frame and manner agreeable to both parties. To ensure that these improvements continue Mr. David Scanlan, one of the original founders who developed the concept of retail kiosk refilling, has been appointed as CEO of the Company's US subsidiary. Mr. Scanlan brings a wealth of hands-on experience related to ink refilling, particularly in the in-store retail environment, and he will take immediate responsibility for installations, training, field engineering maintenance and customer support activities. The Company reports that the levels of average refill rates have remained relatively steady over the previous five weeks although last week saw a record average refill rate. As the Company's major customer enters its busiest time of the year, the Company expects to see growth in these rates increase. The Company continues to operate within its banking facilities which it keeps under close review. Directorate Changes The Board of the Company announces today Mr. Chris Dietemann has stepped down as a director. Mr Dietemann will continue in his operational role and remains responsible for all manufacturing and supply chain activities both in Europe and the United States. The Board is actively looking for a further non-executive and shareholders will be appraised of progress on this in due course. - Ends - For further information: Cartucho Group Limited Roger Pellew, Chief Executive Tel: +44 (0) 7725 860 528 Media enquiries: Abchurch Chris Lane Tel: +44 (0) 20 7398 7700 chris.lane@abchurch-group.com www.abchurch-group.com This information is provided by RNS The company news service from the London Stock Exchange END TSTEDLBFQFBXFBD
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