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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Relax Grp | LSE:RLX | London | Ordinary Share | GB00B14TH533 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 11.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMRLX RNS Number : 3455N Relax Group PLC 16 February 2009 For release at 07.00 Monday Feb 16 2009 Relax Group plc (or 'the Company') Relax Group plc AGM Statement At the Company's AGM to be held this morning the Chairman, Mr Bernard Asher, will deliver the following statement. "Last year was a year of evolution for the Company following the restructuring of its business model thanks to two major acquisitions, PB Recovery in February and Relax Finance in May. As a result of the latter we welcomed three new executive directors to the Board, Ian Guy, Carl Kroger and Trevor Moore, who have significantly strengthened the management team. These acquisitions considerably expanded the depth of our product offering, and improved the effectiveness of our systems in many key areas; IT, our operational and management teams and in new business acquisition. As a result we have implemented a series of cost savings, internal process and efficiency changes and forged commercial relationships with several blue chip referral partners. These changes have improved conversion levels within the business, reduced processing costs and improved our cash collection. Furthermore we have significantly reduced our marketing spend whilst increasing the volume of new business. The current year has started well and the first half is up to our best expectations. The economic background has meant that demand for our services has been strong. The improvements made to our database of individual contacts and IT systems have driven down the costs of acquiring new business and we have also been able to utilise them more efficiently and effectively. As in previous years we expect our profitability to be skewed towards the second half of the year. In order to give a better indication at the interim stage of the full year outcome the Board has been considering possible changes to the reporting dates and we will be reviewing the options and their implications. There are a number of potentially exciting new areas of activity which are being pursued and about which I hope to report in due course. In addition we continue to seek out and monitor a wide range of acquisition possibilities. Overall your Board is very optimistic about the outlook for the Company and confident of meeting analysts' forecasts for the current year. Once again I should like to thank your Chief Executive, Paul Carter, the newly appointed executive team and all staff for their hard work and considerable achievements." Bernard Asher Chairman February 16th 2009 Enquiries: Paul Carter Relax Group plc 01246 561156 Chris Steele 07979 604 687 Adventis Financial Tarquin Edwards 020 7034 4758 Mark Percy Seymour Pierce 020 7107 8000 This information is provided by RNS The company news service from the London Stock Exchange END AGMGUUMGPUPBPPA
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