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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Cybit Hldgs | LSE:CYH | London | Ordinary Share | GB00B04QS651 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 73.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:2276D CybIT Holdings PLC 04 September 2007 CYBIT HOLDINGS PLC CYBIT CHAIRMAN IN CONFIDENT MOOD AT AGM Speaking at today's Annual General Meeting of Cybit Holdings Plc, Neil Johnson, Chairman, will make the following statement. " The current year has started extremely well. We have continued to make excellent progress in our strategy of expanding the scale of the Group via a combination of organic and acquisitive growth. We now serve over 1,500 customers in both the private and public sectors, who use our fleet and asset management solutions to manage over 40,000 assets. " These are exciting times for the Group. The three substantial acquisitions that we have made in the last year have all contributed to increase the scale of the business significantly. They have allowed us to take a leading position in a number of key sectors in the market. " The integration of Thales Telematics was completed on schedule, with significant cost savings being achieved across both PMR and Telematics businesses. The level of contract extensions and renewals across both businesses has also been very encouraging. We are pleased that the pace of growth of this business is continuing to gather momentum and, we have some significant opportunities in the pipeline. The integration of our latest acquisition, Amatics is now underway and, we will report further on the progress we make with this business in the Interim report. " Current trading is very positive. I am delighted to report that the Company has achieved significant revenue and profit growth in the first four months of the current year. Revenues for the period to 31 July stood at #6 million which is more than double the #2.9 million achieved in the equivalent period last year. This gives us confidence that we are on target to achieve our revenue expectations for the full year of #19 million. " The Board will continue to explore growth opportunities through further acquisitions. The telematics sector remains very fragmented with no clear market leaders. It is our stated strategy to grow the scale of the Group by targeting carefully bolt-on acquisitions. We are currently tracking a number of targets of high quality businesses that would extend our customer coverage and extend the scale of our operations. " We have made very encouraging progress in the first few months of the year. Looking forward the future for the Group is excellent. We have the platform from which we can drive forward the growth of the business and we have a number of opportunities to leverage our sizable and loyal client base. The Board is looking to the future with much confidence and I look forward to updating shareholders on the progress that we make." -ends- Date: 4 September 2007 For further information please contact: Cybit Holdings Plc cityPROFILE Richard Horsman, Chief Executive Simon Courtenay Kevin Lawrence, Finance Director William Atwell Tel: 01480-389100 Tel: 020-7448-3244 About Cybit: Cybit, a global force in Telematics operates within three core sectors: Internet-based vehicle Telematics solutions; Economic Exclusion Zone (EEZ) Management; and Private Mobile Radio (PMR) based asset tracking and precise positioning solutions. In the vehicle Telematics sector, Cybit is one of Europe's leading Telematics Service Providers (TSPs). More than 1,500 business to business clients use our fleet and asset management solutions to manage in excess of 40,000 vehicle based assets. Solutions include in-vehicle technologies, work flow management and internet-based monitoring and reporting software. The company also provides consulting services to advise on legal issues such as duty of care and working hours. Their recently acquired PMR business, Cybit Positioning Solutions, provides asset-tracking solutions for both maritime and land-based applications including exploration and mining. Its precise positioning solutions assist in the location and exploitation of oil, gas and mineral reserves around the globe. This information is provided by RNS The company news service from the London Stock Exchange END AGMUOVWRBNRKRAR
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