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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Triplearc | LSE:TPA | London | Ordinary Share | GB0031067340 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 5.92 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:1227O TripleArc PLC 28 June 2005 28 June 2005 TripleArc Plc ("TripleArc" or the "Company") AGM Statement The Annual General Meeting of TripleArc, the UK based provider of technology led print procurement solutions, will be held at 10.00 am today, 28 June 2005. At the meeting, Chris Pople, non-executive Chairman, will make the following statement: "The Chief Executive's review contained in the preliminary announcement of results released in April 2005 stated that a decline in the business forms market, combined with a slowdown in demand from the retail sector, had led to a slower than expected start for the Print Management division in 2005. Since then, trading in the division's retail and business forms units has not improved and further reductions in demand has continued to impact negatively on performance. The loss of an anticipated large contract win with a professional services organisation has also impacted upon management expectations for the current year. "The remainder of the group, including the recently acquired Stream business, performed in line with management expectations. The combination of Stream with AccessPlus and our proprietary technology has enhanced the Group's outsourced service offering and has provided several new business opportunities. The contracts awarded to the Group during 2004 have now been bedded into the Group and are providing good levels of revenue. The contracts pipeline remains strong and includes the significant contract with a large financial services organisation for which the Company has preferred bidder status. "The Directors believe that the slowdown in the retail sector could provide the Group with opportunities in the second half of the year as retailers look to outsourced service propositions to combine cost cutting with increasing levels of marketing activity. However, it has become apparent that the Company will be unlikely to offset the impact of the Group's first half underperformance. As a result, the Directors anticipate that the Company's results for the financial year ending 31 December 2005 will be significantly below current market expectations, with profit before interest, taxation and amortisation less than that reported in the last financial year. "The Board is undertaking a thorough, group-wide restructuring process in order to rationalise the operating cost base, to take full advantage of the synergies available from the Stream acquisition and to improve the performance and growth prospects of the Group. "The Board remains committed to its strategy of developing a total communications support services solution and is confident in its ability to deliver enhanced value to shareholders through long-term, high value contracts." - ends - For further information please contact: TripleArc Plc 0117 933 1000 Jason Cromack Weber Shandwick Square Mile 020 7067 0700 Terry Garrett This information is provided by RNS The company news service from the London Stock Exchange END AGMPKOKKCBKDPAB
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