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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Rome Resources Plc | LSE:RMR | London | Ordinary Share | GB00BYY0JQ23 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-9.20 | -96.79% | 0.305 | 0.29 | 0.32 | 0.35 | 0.305 | 0.35 | 551,396,122 | 15:57:08 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:6702W RMR PLC 4 January 2001 RMR plc ("RMR" or "the Company") TRADING UPDATE BACKGROUND Since the Interim Report RMR has: 1. launched 3 conferences Communicate 2000 (www.communicate2000.com), Pharmaceuticals 2000 (www.pharmaceuticals2000.com) and Global Investor 2000 (www.globalinvestor2000.com).These conferences have attracted in total over 18,000 delegates primarily from Europe and North America. 2. produced 11 new conferences for launch in 2001 eg: Insurance 2001 (www.insurance2001.com), Corporate Travel 2001 (www.rmr-corporatetravel2001.com), Cosmetics2001 ( www.rmr-cosmetics2001.com). 3. developed new products using the Automated Conference Software which allows existing content and community owners to provide information in an intelligent and intuitive manner. 4. produced 2 US based conferences as a pilot to test the market. PERFORMANCE Since the Interim Report there has been a significant decline in sales of virtual exhibition stands on the conferences, particularly in November and December. This has resulted in a 60 % shortfall against target. As a result the financial results for the year to 28 February 2001 will not meet market expectations. A review of the sales performance has shown that whilst there is continuing strong interest in RMR's conference products there is an unwillingness to commit to expenditure. Management believe that this is due in part to external factors such as seasonality and the uncertainties over the US economy but also to internal factors. The review identified the need to change the nature and quality of contact with customers, in particular to use a more personalised approach. As a result it has been decided that a sales force made up of a relatively small number of highly skilled and experienced staff is more appropriate than one based solely on telesales. This sales structure is felt to be particularly suitable for the sale of new products using the Company's Automated Software. The Company is now embarking on a consultation process which is expected to lead to a reduction of between 65 and 75 employees from its current headcount of 160. As a result, payroll costs are expected to be reduced by #1.6 million on an annualised basis. The consultation process is expected to be completed during February. CASH POSITION At the 31 December 2000 RMR's cash balance was #7.3 million. The Board believe that the restructuring steps taken above will result in a lower level of loss through improved sales and the benefit of a lower cost base. As a result it is believed that there is sufficient headroom to see the Company through to profitability. 4 January 2001
1 Year Rome Resources Chart |
1 Month Rome Resources Chart |
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