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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Sabien Technology Group Plc | LSE:SNT | London | Ordinary Share | GB00BN6JG812 | ORD 3P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 12.50 | 12.00 | 13.00 | 12.50 | 12.50 | 12.50 | 17,076 | 08:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:9118W Soundtracs PLC 9 January 2001 TRADING UPDATE - CLOSURE OF US SUBSIDIARY Further to the announcement made on 1 August 2000, the Company announces that the Group has continued to endure difficult trading conditions in the six months ended 31 October 2000 with conversion of prospective sales remaining frustratingly low. Soundtracs (USA) Inc. the American trading subsidiary of Soundtracs Plc, suffered from a material downturn in the level of its business activities. As a consequence, a decision has this week been taken to close the American subsidiary which will result in substantial provisions and closure costs being incurred. The preliminary unaudited figures for the Group for the year ended 31 October 2000 will be announced within the next three weeks. These will reflect losses arising on the closure of Soundtracs (USA) Inc. and the disappointing level of sales in the second half of the year. The Board estimates that full year losses will be of the order of #500,000 incorporating both continuing and discontinued activities. Group balance sheet remains strong with cash balances in excess of #1 million and a medium term loan of #780,000 secured against freehold property. All distribution activities in the USA have been transferred to Fairlight Inc. who have offices in both New York and Los Angeles and are market leaders in the sale and distribution of digital equipment complementary with Soundtracs digital product range. For further information: Todd Wells, Chief Executive Richard Owen, Chairman 020 7935 0811
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