Trading update,Directorate Changes and Contract Review

 
TIDMNXS 
 
09 December 2011 
 
                             Nexus Management Plc 
 
                                   (AIM:NXS) 
 
                   ("Nexus" or"the Group" or "the Company") 
 
            Trading update,Directorate Changes and Contract Review. 
 
Trading Update 
 
Nexus Management Plc, the AIM quoted provider of specialist IT Managed 
Services, is pleased to announce its unaudited pre-close trading update in 
advance of its final results for the year ended 30 September 2011 which are 
expected to be released in early 2012. 
 
The figures below are unaudited and remain subject to audit adjustments. 
 
Highlights: 
 
  * Revenue increased from GBP5.85 million to GBP5.9 million; 
 
  * Operating profit increased by over GBP500,000 to GBP396,000 compared to a loss 
    of GBP136,000 in the previous year. (Operating profit is calculated before 
    impairment, amortisation, share based payments and exchange rate movements) 
 
  * Cash at bank and in hand increased by GBP28,000 in the year to GBP409,000. 
 
  * Operating costs substantially reduced. 
 
During the year ended 30 September 2011 the Company rationalised its overhead 
base, which provided a much leaner operation upon which to build. The main 
drivers in this area were to streamline common functions across the Group, 
increasing margins derived from projects, a continued focus on cost control and 
cash maximisation processes. 
 
The Company also announces that one of its largest clients has an annual 
contract review in early 2012. The Company is actively engaged in this review 
process particularly as that there have been some key organisational changes 
within this client during the last 12 months. 
 
Commenting on the trading update, CEO of Nexus, Roger Richardson, said: 
 
"We have worked hard towards our goal of achieving profitability at all of our 
subsidiaries. As stated above, this continued objective is reliant upon a 
positive conclusion to the negotiations with the above mentioned client. Our 
focus remains to increase revenues across the Group while reducing unnecessary 
operating costs. We have achieved this during a period of austerity which is a 
great credit to the Nexus management team." 
 
Directorate Changes 
 
The Company also announces that Roger Richardson, Executive Chairman, has 
decided to resign as a director of the Company with immediate effect to pursue 
his other business interests. He will remain as a consultant to the Company for 
a period of 18 months to allow for an orderly handover. 
 
M Barney Battles will assume the position of Executive Chairman whilst the 
Company completes its strategic review. 
 
Commenting on the directorate changes, M Barney Battles, said: 
 
"I would like to thank Roger for all his work and commitment to the Company 
over the last eight years. He has overseen a number of changes in the business 
in this period and leaves the business on a stronger footing." 
 
FURTHER ENQUIRIES 
 
Nexus Management plc 
 
M BarneyBattles                                              Tel: [phone] 
 
Merchant SecuritiesLimited (Nominated Adviser) 
 
Simon Clements/David Worlidge                                Tel: [phone] 
 
Rivington Street (Broker) 
 
Jon Levinson                                                 Tel: [phone] 
 
Bishopsgate Communications Ltd 
 
Nick Rome/Deepali Schneider/Natalie Quinn                    Tel: [phone] 
 
Notes to Editors 
 
Nexus Management is an IT Managed Services Provider specializing in reducing 
the cost and complexity of IT for companies. Nexus has been a pioneer in cloud 
computing and virtualization with many customers benefiting from these modern 
disciplines. Nexus operates in two key markets: Europe and the US, where it can 
offer customers 24 hour help desk support, Remote Server Management, Wide Area 
Network Management, equipment monitoring, Disaster Recovery, Data Storage and 
Desktop Support, and through its Resilience Technology Corporation subsidiary 
(www.resilience.com), bullet-proof network security. 
 
Resilience has since 1985 delivered network security appliances with the most 
advanced operating system. RES/OS boasts such features as open systems 
flexibility and life cycle management innovations for mission-critical 
applications. Resilience's high performance solutions are designed for network 
environments where availability is essential and security must not be 
compromised. 
 
Nexus Management is incorporated in the United Kingdom and its shares are 
quoted on the London Stock Exchange (AIM). 
 
http://www.nexusmanagementplc.com/ 
 
 
 
END