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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 |
RNS Number:3577R InTechnology PLC 16 September 2005 16 September 2005 InTechnology plc Trading Update On 5th August 2005, InTechnology announced that pricing pressure in its Distribution business and margin pressure within its Security business, caused by the appreciation of the US Dollar, would result in earnings before interest, tax, goodwill amortisation and exceptional charges for the first half-year being below market expectations. InTechnology also announced at that time that it would embark on a restructuring process to achieve cost savings and improve operating efficiencies which would result in an exceptional charge, to be announced at a later date. The Company today announces that an exceptional charge of approximately #4 million will be made for the 6 months period ended 30 September 2005, expected to be announced in November 2005. This exceptional charge will result in operating cost savings of approximately #6 million per annum. Since the 5th August, the Distribution businesses in the UK and Continental Europe have, in common with most other Vendors and Channel Partners, continued to experience pricing pressures causing the need to reduce operating costs. The foreign exchange impact in the Security businesses has eased in the past month as the US Dollar fell against the Euro and Sterling. However there will still be a negative impact on margins in the first half-year resulting in a small operating trading loss before interest, tax, amortisation and exceptional charges. Results for the full-year before the exceptional charges are expected to be line with current market expectations. The Managed Data Services division continues to trade in line with management's expectations and is expected to achieve increased operating profits before interest, tax and amortisation in the second half-year. For further information: InTechnology plc 01423 877 442 Peter Wilkinson / Andrew Kaberry Financial Dynamics 020 7831 3113 James Melville-Ross This information is provided by RNS The company news service from the London Stock Exchange END TSTSFISMMSISEIU
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