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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Intechnology | LSE:ITO | London | Ordinary Share | GB0001388932 | 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% | 24.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
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RNS Number:4122N
InTechnology PLC
07 December 2006
7 December 2006
InTechnology plc
Interim Results for the six months ended 30 September 2006
InTechnology plc ("InTechnology" or "the Company"), a leading provider of data
storage, security and network solutions and managed services, announces interim
results for the six months ended 30 September 2006. The comparatives given
below include the results of the Group's continuing operations only and exclude
those of the European distribution business sold on 31 March 2006.
Financial highlights (continuing operations)
* Turnover for the Group up 11% to #107.8M (2005: #96.9M)
- Managed Data Services revenues up 14% to #13.7M (2005: #12.0M)
- UK Specialist Distribution revenues increased to #94.1M (2005: #84.9M)
* Earnings before interest, tax, amortisation of goodwill and
exceptional items were up 170% to #2.7M (2005: #1.0M)
* Loss sustained for the period before exceptional impairment charge was
#1.0M (2005: #4.8M)
* Gross cash balances of #8.8M (2005: #7.4M)
* Net debt including finance leases and term loans of #10.1M (2005:
#25.0M)
* Cash received from the sale of the European subsidiaries was #16.5M
Operational highlights
* Continued focus on cost reduction which has alleviated pressure on gross
margins within Specialist Distribution division
* Successful relocation and reorganisation of the Managed Data Services
division in Harrogate
* Continued development and enhancement of products in both data and voice
services businesses
Post period end activity
* #4M investment in Mobile Tornado plc in October 2006 giving InTechnology a
42% holding and providing the Company with a unique managed services product
to market in the UK
* December 2006 disposal of UK Distribution division for #41M in cash
enabling the Company to focus on high margin Managed Services division.
Commenting on the results, Peter Wilkinson, Chief Executive Officer made the
following statement:
"I am delighted with the progress we have made during the first six months of
this year. Following the sale of the Continental European Distribution business
earlier this year and the UK Specialist Distribution division announced today,
we can focus entirely on the Managed Services division which has exciting
potential for growth. We will expand this business both organically and through
acquisitions. I am confident about the Group's prospects going forward as a
streamlined, more focused business."
For further information:
InTechnology plc 020 7786 3400
Peter Wilkinson / Andrew Kaberry
Financial Dynamics 020 7831 3113
James Melville-Ross / Hannah Sloane
Chief Executive Officer's Statement
Overview
In my report to shareholders on 30 June 2006 I referred to the disposal of the
loss making and cash draining European distribution subsidiaries and the
necessary cost reduction programme that had to be carried out in both the UK
Distribution and Managed Services divisions. I ended by saying that going
forward the Group's senior management team needed to focus its attention on
profit making.
I am pleased to report that we have achieved this and the good trading results
before exceptional items for the first half-year contrast those reported one
year ago. Whilst much remains to be achieved we have made significant progress
to improve medium term profitability.
The comparative information given below includes the results of the Group's
continuing operations and excludes those of the European Distribution business
sold on 31 March 2006.
Trading and operating performance
* Group turnover during the first half year of the year was #107.8M (2005:
#96.9M), an increase of 11%. Gross profit was #20.0M (2005: #18.5M), an
increase of 8%.
* Earnings before interest, tax, amortisation of goodwill and exceptional
charges were #2.7M (2005: #1.0M), an increase of 170%.
* The Group operating loss from continuing operations was #4.6M (2005: #4.0M
loss). Total Group loss sustained for the period after interest, taxation
and all charges was #6.0M (2005: #13.8M).
* The Group ended the period with gross cash of #8.8M (30 September 2005:
#7.4M, 31 March 2006 #12.7M) and net debt including finance leases and term
loans of #10.1M (30 September 2005: #25.0M, 31 March 2006 #19.5M). During
the first half of this financial year cash received from the sale of the
European subsidiaries was #16.5M.
* In preparing this interim statement we have adopted FRS 20 'share-based
payment'. The net effect of this change in policy for the period has been
to increase net operating expenses by #0.2M (2005: #0.1M). Prior year
comparatives have been restated accordingly (see note 1 for further
information).
Specialist Distribution division trading review
Revenues increased to #94.1M (2005: #84.9M) but gross margins decreased to 10.6%
(2005: 11.3%) as the margin squeeze from both vendors and customers continued.
Earnings before interest, tax, amortisation of goodwill and exceptional charges
were #1.8M (2005: #0.6M). Exceptional charges of #5M in respect of goodwill
impairment (note 3) were incurred in the period (2005: #1.6M). Operating loss
was #4.2M (2005: #2.2M loss).
The cost reductions initiated last year, combined with our withdrawal from high
volume low margin business particularly in the security software division,
helped to alleviate the pressure on gross margins. The sales force continued to
concentrate on developing new business with smaller customers where gross
margins are better.
Sale of Specialist Distribution division
In my discussions about last year's full year results I said that over the next
few years there will be consolidation across Europe of both Distributors and
Reseller partners. We were approached during this year by a leading US
distributor, Arrow Electronics Inc ('Arrow'), and, on 6 December 2006 signed
contracts to sell the Specialist Distribution division with completion on 29
December 2006. The sale is conditional on EU Merger clearance being obtained
and on there being no material adverse change affecting the business.. Some 200
staff will transfer to Arrow on completion thereby reducing Group headcount to
165. There will be a corporation tax liability arising on the deal which will
be confirmed once completion accounts are agreed. Based on the anticipated
level of sale proceeds from the transaction compared to the book value of the
assets to be disposed a #5.0M impairment of goodwill has been booked.
I am delighted by this announcement which will enable us to concentrate entirely
on the Managed Data Services division which has consistently had higher gross
margins. Furthermore, I am pleased that Arrow is the acquirer. They will
endeavour to grow the business and there are no planned redundancies.
Managed Data Services division
Revenues were #13.7M (2005: #12.0M), an increase of 14% despite the churn of
some large contracts having annualised revenues of #2.4m. Gross profit margins
were 73.3% (2005: 74.0%). Operating costs rose to #9.2M (2005: #8.4M) mainly
due to investment during this half year in the new Managed Voice Services
division, electricity cost increases not recovered and certain large one-off
technology cost increases as we migrated data services to a new low cost
delivery.
Operating profit before interest, tax, amortisation of goodwill and exceptional
charges was #0.8M (2005: #0.5M). There were no exceptional charges in this half
year (2005: #1.1M). The division achieved operating margins before amortisation
of goodwill and exceptional items of 6.1% (2005: 3.9%) compared to 2.1% (2005:
0.7%) in Distribution. The divisional operating loss was #0.3M (2005: #1.8M).
We have won a number of new clients in the past six months and significant
contract wins were from Smith &Nephew, DLA, TubeLines, Principal Hotels and
UKERNA. We have successfully reduced our rate of customer churn during H1 to
less than 3% per annum (FY 2006: 9.7%).
Importantly we have successfully relocated and reorganised the division in
Harrogate. I believe we now have the correct structure in sales, service
delivery and support to help drive forward an expanding and profitable business.
We continue to develop and enhance products in both data and voice service
businesses and are optimistic for the future.
Mobile Tornado plc
During October 2006 we invested #4M cash in Mobile Tornado plc giving
InTechnology a 42% holding. Predating InTechnology's investment, both myself
and Richard James, Director of Legal Affairs and Company Secretary, together
hold a further 16% as private investors.
Mobile Tornado owns intellectual property in an exciting part of the mobile and
fixed line telco sector. It continues to develop its technology in the push to
talk, push to mail and push to video applications, and is already a strategic
supplier of technology to major infrastructure providers in the long awaited IMS
rollout. We believe that Mobile Tornado should have adequate cash following our
investment to successfully prove its technology to a global market and will
therefore prove an excellent return on our investment.
Furthermore it importantly provides InTechnology with a unique managed services
product to market in the UK and we are confident that the investment can be
justified on this offering alone. However, this is not expected to earn
revenues and gross margins until FY 2008.
Outlook
We have turned the Group around in reducing the losses of a year ago. Net debt
has been reduced and the funds generated by the sale of the Specialist
Distribution division will eliminate all debt, finance the recent Mobile Tornado
investment and possible further acquisitions.
Following the sale of the Specialist Distribution business, Managed Services is
the sole engine for increasing Group profitability and we have the opportunity
to reposition ourselves in the market as a Reseller instead of a Distributor.
High margins from recurring service revenues together with tight control of
costs are the future. We have said many times in the past that Managed Services
can achieve operating margins greater than the gross margins in Distribution.
We now aim to prove this in the next few years by organic growth, possible
acquisitions and the continued development of data and voice solutions to
businesses in both the private and public sectors. I have every confidence that
as a more focused Group we will experience increased revenues and profits as we
move forward.
Peter Wilkinson
Chief Executive Officer
7 December 2006
Consolidated profit & loss account
for the 6 months ended 30 September 2006
6 months ended 6 months ended Year ended
30 September 2006 30 September 31 March 2006
2005
(Unaudited) (Unaudited) (Unaudited)
(Restated) (Restated)
Note #'000 #'000 #'000
Turnover
Continuing operations 107,789 96,865 214,966
Discontinued operations - 34,914 69,763
107,789 131,779 284,729
Cost of sales (87,756) (108,990) (235,656)
Gross profit 20,033 22,789 49,073
Net operating expenses before
depreciation, amortisation of
goodwill and exceptional items (14,780) (19,734) (39,359)
Depreciation (2,416) (2,999) (5,716)
FRS 20 share option charge (160) (132) (264)
Amortisation of goodwill (2,234) (2,372) (4,732)
Exceptional costs of reorganisation - (4,215) (5,491)
Exceptional impairment charge 3 (5,000) (6,423) -
Net operating expenses (24,590) (35,875) (55,562)
Group operating loss
Continuing operations (4,557) (4,002) (1,149)
Discontinued operations - (9,084) (5,340)
Group operating loss 1, 2 (4,557) (13,086) (6,489)
Loss on sale of subsidiary
undertakings - - (3,661)
Net interest payable (790) (1,134) (2,226)
Loss on ordinary activities
before taxation (5,347) (14,220) (12,376)
Tax on loss on ordinary activities 4 (641) 440 530
Loss sustained for the period (5,988) (13,780) (11,846)
Loss per share (pence)
Basic and diluted 5 (4.24) (9.94) (8.39)
EBITAE 2,677 (76) 3,734
Consolidated balance sheet
As at 30 September 2006
30 30 September 31 March
September
2006 2005 2006
(Unaudited) (Unaudited) (Unaudited)
(Restated) (Restated)
#'000 #'000 #'000
Fixed assets
Intangible assets 57,869 67,342 65,104
Tangible assets 9,887 12,066 10,424
67,756 79,408 75,528
Current assets
Stock 7,918 10,897 6,622
Debtors 65,560 91,483 89,421
Cash at bank and in hand 8,788 7,432 12,719
82,266 109,812 108,762
Creditors - amounts falling due
within one year (73,828) (103,702) (100,285)
Net current assets 8,438 6,110 8,477
Total assets less current liabilities 76,194 85,518 84,005
Creditors - amounts falling due
after more than one year (2,022) (5,725) (4,015)
Provisions for liabilities & charges - (1,934) -
Net assets 74,172 77,859 79,990
Capital and reserves
Called up share capital - equity 1,415 1,411 1,411
- non-equity 480 480 480
Share premium account 188,671 188,668 188,668
Revaluation reserve 1,592 1,754 1,646
Share option reserve 742 450 581
Profit and loss account (118,728) (114,904) (112,796)
Shareholders' funds (including non-equity 74,172 77,859 79,990
interests)
Shareholders' funds comprise:
Equity interests 71,932 75,619 77,750
Non-equity interests 2,240 2,240 2,240
74,172 77,859 79,990
Consolidated cash flow statement
For the 6 months ended 30 September 2006
6 months ended 6 months ended Year ended
30 September 2006 30 September 2005 31 March 2006
(Unaudited) (Unaudited) (Unaudited)
(Restated) (Restated)
Note #'000 #'000 #'000
Net cash inflow
from operating activities 6 12,388 251 10,667
Returns on investments
and servicing of finance
Interest received 71 59 92
Interest element of finance lease
payments (99) (127) (232)
Interest paid (753) (1,054) (2,008)
Net cash outflow from returns
on investments and servicing of
finance (781) (1,122) (2,148)
Taxation paid (400) (128) (822)
Capital expenditure and
financial investment
Purchase of tangible fixed assets (945) (1,132) (2,077)
Sale of tangible fixed assets 44 26 67
Net cash outflow from capital
expenditure and
financial investment (901) (1,106) (2,010)
Disposals
Cash disposed of on sale of
subsidiary undertakings - - (2,185)
Net cash outflow from disposals - - (2,185)
Net cash inflow/(outflow) before
financing 10,306 (2,105) 3,502
Financing
Net (decrease)/increase in
borrowings (13,525) (71) 431
Capital element of finance lease
payments (712) (868) (1,706)
Net cash outflow from financing (14,237) (939) (1,275)
(Decrease)/increase in cash in
the period 7 (3,931) (3,044) 2,227
Consolidated statement of total recognised gains and losses
For the 6 months ended 30 September 2006
30 September 30 September 31 March
2006 2005 2006
(Unaudited) (Unaudited) (Unaudited)
(Restated) (Restated)
Note #'000 #'000 #'000
Loss sustained for the financial
period (5,988) (13,780) (11,846)
Exchange loss on translation of
overseas subsidiaries - (187) -
Exchange gain on translation of
hedging loan - 122 -
Total recognised gains and losses
relatng to the period (5,988) (13,845) (11,846)
Prior year adjustment 1 174 - -
Total recognised gains and losses
since last annual report (5,814) (13,845) (11,846)
Notes to the interim financial information
For the 6 months ended 30 September 2006
1. Basis of preparation
The financial information included in this interim statement for the 6 months
ended 30 September 2006 does not constitute statutory accounts within the
meaning of section 240 of the Companies Act 1985 and is not audited or reviewed.
In preparing this interim statement, management have adopted FRS 20
'share-based payment'.
Share Based Payments
The adoption of this standard represents a change in accounting policy and the
prior year comparatives have been restated accordingly. The effects of the
change on net operating expenses and the tax credit for the period ended 30
September 2005 and the year ended 31 March 2006 are summarised as follows:
The Group operates a number of equity-settled, share-based compensation plans.
The fair value of the employee services received in exchange for the grant of
the options is recognised as an expense. The total amount to be expensed over
the vesting period is determined by reference to the fair value of the options
granted, excluding the impact of any non-market vesting conditions (for example,
profitability and sales growth targets). Non-market vesting conditions are
included in assumptions about the number of options that are expected to vest.
At each balance sheet date, the group revises its estimates of the number of
options that are expected to vest. It recognises the impact of the revision to
original estimates, if any, in the profit and loss account, with a corresponding
adjustment to equity. The proceeds received net of any directly attributable
transaction costs are credited to share capital (nominal value) and share
premium when the options are exercised.
Net operating expenses Tax credit
#'000 #'000
Period ended 30 September 2005 (unaudited)
As previously stated (35,743) 400
Restated (35,875) 440
Year ended 31 March 2006
As previously stated (55,298) 451
Restated (55,562) 530
The net effect of the change in policy in the year ended 31 March 2006 is to
increase net operating expenses by #264,000, increase the tax credit on the loss
on ordinary activities by #79,000 and increase the loss sustained for the
financial year by #185,000.
The cumulative effect of implementing the policy is to increase Group reserves
at 31 March 2006 by #174,000 (2005: #95,000). The changes are summarised as
follows:
Share option Profit and Shareholders'
reserve loss funds
#'000 #'000 #'000
Period ended 30 September 2005 (unaudited)
As previously stated - (114,589) 77,724
Restated 450 (114,904) 77,859
Year ended 31 March 2006
As previously stated - (112,389) 79,816
Restated 742 (112,796) 79,990
There have been no other changes to the accounting policies as set out in the
2006 Report and Accounts. The financial information relating to the year ended
31 March 2006 has been extracted from the statutory accounts for that year, with
the exception of the prior period adjustment described above, which have been
filed with the Registrar of Companies and on which the auditors gave an
unqualified opinion.
2. Segmental information
Turnover by destination Turnover by source
6 months 6 months Year 6 months 6 months Year
ended ended ended ended ended ended
30 September 30 September 31 March 30 September 30 September 31 March
2006 2005 2006 2006 2005 2006
(Unaudited) (Unaudited) (Audited) (Unaudited) (Unaudited) (Audited)
#'000 #'000 #'000 #'000 #'000 #'000
Geographical
analysis
United Kingdom 104,380 95,075 210,944 107,460 96,865 214,966
Continental
Europe 3,269 36,110 72,488 329 34,914 69,763
North America 102 380 555 - - -
South and Central
America - - 151 - - -
Africa - 110 455 - - -
Australasia 38 104 136 - - -
Total 107,789 131,779 284,729 107,789 131,779 284,729
Operating loss by source
6 months 6 months Year
ended ended ended
30 September 30 September 31 March
2006 2005 2006
(Unaudited) (Unaudited) (Unaudited)
(Restated) (Restated)
#'000 #'000 #'000
Geographical
analysis
United Kingdom (4,555) (4,002) (1,149)
Continental Europe (2) (9,084) (5,340)
Total (4,557) (13,086) (6,489)
Notes to the interim financial information
For the 6 months ended 30 September 2006
Turnover Operating profit/(loss)
before goodwill amortisation
and exceptional items
6 months 6 months Year 6 months 6 months Year
ended ended ended ended ended ended
30 September 30 September 31 March 30 September 30 September 31 March
2006 2005 2006 2006 2005 2006
(Unaudited) (Unaudited) (Audited) (Unaudited) (Unaudited) (Unaudited)
(Restated) (Restated)
#'000 #'000 #'000 #'000 #'000 #'000
Business
analysis
Specialist
Distribution:
UK 93,764 84,846 189,632 1,848 552 4,074
Europe 329 34,914 69,763 (2) (1,095) (2,039)
Managed Data
Services 13,696 12,019 25,334 831 467 1,699
Total 107,789 131,779 284,729 2,677 (76) 3,734
Operating loss
after goodwill amortisation
and exceptional items
6 months 6 months Year
ended ended ended
30 September 30 September 31 March
2006 2005 2006
(Unaudited) (Unaudited) (Unaudited)
(Restated) (Restated)
#'000 #'000 #'000
Business analysis
Specialist Distribution:
UK (4,243) (2,217) 383
Europe (2) (9,084) (5,340)
Managed Data Services (312) (1,785) (1,532)
Total (4,557) (13,086) (6,489)
The segmental analysis above excludes net interest payable of #790,000 (30
September 2005: #1,134,000, 31 March 2006: #2,226,000) which is not analysed by
business segment.
3. Exceptional impairment charge
The Board has conducted an impairment review of the carrying value of goodwill
arising on the acquisition of HOLF Technologies Limited and VData Limited in
July 2000 together with the Allasso Group of companies in July 2003 in
accordance with FRS 11 'Impairment of fixed assets and goodwill'.
The Directors have considered the recoverable amounts by reference to the net
present value of estimated current and future cash flows of the relevant income
generating units.
The Directors considered it appropriate to use a cost of capital relevant to the
risks and stage of development associated with each income generating unit.
Notes to the interim financial information
For the 6 months ended 30 September 2006
The exceptional impairment arises in respect of HOLF Technologies Limited and
Allasso UK and referred to as the Group's UK Distribution Division, the after
tax cost of capital used being 7.1%. In light of the sale of the UK
Distribution Division on 6 December 2006 to Digital Network Services (UK)
Limited, the Directors have concluded that the carrying value of the assets,
including goodwill, exceed the higher of net realisable value and value in use
by #5,000,000, and accordingly an impairment charge of this amount has been made
in the profit and loss account for the period ended 30 September 2006.
4. Tax on loss on ordinary activities
The corporation tax charge for the 6 months to 30 September 2006 is #641,000 (30
September 2005: #440,000 credit, 31 March 2006: #530,000 credit). Taxation has
been calculated by applying the directors' best estimate of the effective tax
rate for the period, which is 34% (30 September 2005: 29% in the UK and
approximately 2% in respect of discontinued European operations, 31 March 2006:
16% in the UK and approximately 2% in respect of discontinued European
operations) to the profit or loss for the period, before goodwill amortisation
and exceptional impairment which are not deductible for tax purposes.
5. Loss per share
Basic loss per share is calculated by dividing the loss attributable to ordinary
shareholders of #5,988,000 (30 September 2005: #13,780,000, 31 March 2006:
#11,846,000) by the weighted average number of ordinary shares in issue during
the period of 141,111,944 (30 September 2005: 138,569,582, 31 March 2006:
141,111,944).
The adjusted basic and diluted earnings per share have been calculated to
provide a better understanding of the underlying performance of the Group as
follows:
6 months ended 6 months ended Year ended
30 September 2006 30 September 2005 31 March 2006
(Unaudited) (Unaudited) (Unaudited)
Basic and diluted Basic and diluted Basic and diluted
(Loss)/ (Loss)/ (Loss)/ (Loss)/ (Loss)/ (Loss)/
earnings earnings earnings earnings earnings earnings
per share per share per share
(Restated) (Restated) (Restated) (Restated)
#'000 pence #'000 pence #'000 pence
Loss attributable to ordinary
shareholders (5,988) (4.24) (13,780) (9.94) (11,846) (8.39)
FRS 20 share option charge 160 0.12 132 0.10 264 0.19
Amortisation of goodwill 2,234 1.58 2,372 1.71 4,732 3.35
Exceptional costs of
reorganisation - - 4,215 3.04 4,848 3.44
Exceptional impairment charge 5,000 3.54 6,423 4.64 - -
Loss on sale of subsidiary
undertakings - - - - 3,723 2.64
Adjusted basic earnings/(loss)
per share 1,406 1.00 (638) (0.45) 1,721 1.23
The loss attributable to ordinary shareholders and the weighted average number
of ordinary shares for the purpose of calculating the diluted earnings per
ordinary share are identical to those used for basic earnings per ordinary
share. This is because the exercise of share options would have the effect of
reducing the loss per ordinary share and is therefore not dilutive under the
terms of FRS 22 'Earnings per share'.
6. Reconciliation of operating profit to net cash inflow from operating
activities
6 months ended 6 months ended Year ended
30 September 30 September 31 March
2006 2005 2006
(Unaudited) (Unaudited) (Unaudited)
(Restated) (Restated)
#'000 #'000 #'000
Operating loss (4,557) (13,086) (6,489)
Depreciation of tangible fixed assets 2,416 2,999 5,716
Goodwill amortisation 2,234 2,372 4,732
Exceptional costs of reorganisation - fixed
asset depreciation - 287 332
Exceptional impairment charge 5,000 6,423 -
(Profit)/loss on sale of tangible fixed assets (27) 341 331
Exchange movements - (11) 5
Share option non cash charge 160 132 264
(Increase)/decrease in stocks (1,296) 1,834 5,227
Decrease/(increase) in debtors 23,634 6,364 (2,844)
(Decrease)/increase in creditors and provisions (15,176) (7,404) 3,393
Net cash inflow from operating activities 12,388 251 10,667
7. Reconciliation of movement in net debt
6 months ended 6 months ended Year ended
30 September 30 September 31 March
2006 2005 2006
(Unaudited) (Unaudited) (Audited)
#'000 #'000 #'000
(Decrease)/increase in cash in the period (3,931) (3,044) 2,227
Net cash outflow from decrease in finance
leases 712 868 1,706
Cash outflow/(inflow) from
repayment/(advance) of debt 13,525 71 (431)
Change in net debt resulting from cash flows 10,306 (2,105) 3,502
Non-cash changes:
Exchange movements - (14) (36)
Inception of new finance leases (963) (594) (656)
Finance leases on disposal - - 13
Debt issue costs (38) (38) (75)
Movement in net debt in the period 9,305 (2,751) 2,748
Net debt at start of period (19,452) (22,200) (22,200)
Net debt at end of period (10,147) (24,951) (19,452)
8. Shareholder information
The interim announcement will be posted to shareholders on 20 December 2006.
Further copies are available on request from the registered office of the
Company at Nidderdale House, Beckwith Knowle, Harrogate, HG3 1SA.
Corporate information
Board of Directors:
The Rt. Hon. Lord Parkinson Non-Executive Chairman
Joe McNally Non-Executive Director
Charles Scott Non-Executive Director
Peter Wilkinson Chief Executive Officer
Richard James Director & Company Secretary
Andrew Kaberry Finance Director
Steve Pearce Chief Operating Officer
Bryn Sage Managed Data Services
Jason Firth Professional Services
Mark Lower Managed Voice Services
Registered office:
InTechnology plc
Nidderdale House
Beckwith Knowle
Harrogate
HG3 1SA
Tel +44 (0)1423 850000
Fax +44 (0)1423 858855
Registrar and transfer office:
Capita IRG plc
Bourne House
34 Beckenham Road
Beckenham
Kent
BR3 4TU
Principal bankers:
Barclays Bank plc
Parliament Street
York
YO1 1XD
Nominated adviser and broker:
Panmure Gordon & Co. plc
155 Moorgate
London
EC2M 6XB
Independent Auditors:
PricewaterhouseCoopers LLP
Benson House
33 Wellington Street
Leeds
LS1 4JP
Corporate information
Solicitors:
Norton Rose
Kempson House
Camomile Street
London
EC3A 7AN
Company registration number:
3916586
Internet address:
www.intechnology.co.uk
Principal offices
Headquarters
InTechnology plc
Nidderdale House
Otley Road
Beckwith Knowle
Harrogate
HG3 1SA
Tel +44 (0) 1423 850 000
Fax +44 (0) 1423 858 855
InTechnology Security (UK)
Building 1320
Arlington Business Park
Theale
Reading
RG7 4SA
Tel +44 (0) 1189 711 511
Fax +44 (0) 1189 711 522
Northern Data Centre
InTechnology plc
Central House
Beckwith Knowle
Harrogate
HG3 1UG
Southern Data Centre
InTechnology plc
260-266 Goswell Road
Islington
London
EC1V 7EB
London Office
1 Threadneedle Street
London
EC2R 8AW
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR UNAARNORURUA
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