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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Cellcast Plc | LSE:CLTV | London | Ordinary Share | GB00B0GWFM68 | 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% | 1.25 | 1.00 | 1.50 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMCLTV
RNS Number : 6633I
Cellcast plc
27 November 2018
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.
27 November 2018
Cellcast plc
("Cellcast" or the "Company")
Trading statement
The Board of Cellcast plc (AIM: CLTV) announces a trading update ahead of the end of the 2018 fiscal year.
In its interim statements for the period to 30 June 2018, announced on the 25 September 2018, the Company noted that the economic uncertainty caused by Brexit was presenting challenging trading conditions for the media and entertainment industry. The Company further noted that the Board had sought to offset these challenges by taking steps to control the cost base of the Company and attempting to improve margins, and was hopeful that the positive trading would carry on through the second half of the year.
Over the past four weeks, the Company has seen a material decline in its revenues, a corresponding drop in EBITDA performance and associated profitability. This has reversed the positive trading noted in the interim results. The trend is expected to continue in the short term. The final quarter of the year has, historically, been the Company's strongest trading period.
The Company is working to collect monies due to it from its clients in Kenya and expects to receive some of these before the year end, although the bulk of these amounts are unlikely to be received until 2019.
The Board believes that the Company has sufficient cash reserves to sustain this trading at the present time. As at 31 October 2018, the Company had approximately GBP0.7 million of cash.
The Board is taking steps to remedy the situation and actively seeking new revenue streams and further potential cost reductions.
For further information:
Hot Features
Premium
Cellcast plc
Craig Gardiner, CEO Tel: +44 (0) 203 376
9420
craig@cellcast.tv www.cellcast.tv
Allenby Capital Limited (Nominated
Adviser)
Nick Naylor/James Reeve Tel: +44 (0) 20 3328
5656
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
TSTEALFXALFPFFF
(END) Dow Jones Newswires
November 27, 2018 09:45 ET (14:45 GMT)
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