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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Vega Grp. | LSE:VEG | London | Ordinary Share | GB0009291500 | 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% | 273.20 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:3869D Vega Group PLC 06 September 2007 6 September 2007 VEGA Group PLC Interim Management Statement VEGA Group PLC ("the Group"), the specialist Professional Services Company, which is holding its 2007 Annual General Meeting at 12pm today, issues its first Interim Management Statement for the period from 1 May 2007 to 5 September 2007, as required by the revised UK Listing Authority's Disclosure and Transparency Rules. Financial Position and Performance of the Group The Board remains confident that the Group will achieve market expectations for the full year to 30 April 2008. However, profits in the first quarter were lower than in the same period last year owing to our continued investment in sales and marketing and we expect that this year there will be a greater second half bias to our profit performance than last year. This investment in the new business model is beginning to show results through both strategic wins and a strong new business pipeline. * In our Consulting business in the period we have had a breakthrough win with a UK Regulatory Authority as the principal service provider for management and technical support services and we have also been selected as the client-side advisor for a secret, critical decision support system at the UK MoD. * In Technology, our German business has been selected for a #1.2 million training contract with the Swiss Air Force to be signed in September which will re-establish our defence business in Germany. In France, we have had our first major success under a framework contract with the French National Space Agency, CNES, winning a #0.7 million order to design and develop a system for the Franco-Israeli environmental satellite. * In our Managed Solutions business we have secured a contract at the German Aerospace Agency's Operations Centre, GSOC, for satellite operations, widening the services we deliver to this client. In UK defence, we have won a contract to provide technical support for the MoD's secure email system. We are also pleased to report that the recent acquisition, Anite Deutschland (see below), is performing as we anticipated. At 31 August 2007, net debt had increased to #15.1 million reflecting the #8.0 million acquisition of Anite Deutschland, acquisition costs and normal seasonal outflows. Other than this, the financial position of the Group has not changed significantly in the period. Material Events and Transactions On 9 July 2007, we announced the acquisition of Anite Deutschland Management GmbH and its subsidiaries (together "Anite Deutschland") for a consideration of #8.0 million in cash, funded by a new five year term loan. Anite Deutschland is an important part of our strategy for international growth, providing us with a major opening into the German defence market and introducing us to a new market sector in Financial Services, which we believe will provide us with opportunities to cross-sell other VEGA services. Calendar A further update on trading, for the six months ended 31 October 2007, will be announced following the half year end, in line with our normal practice. For further information please contact: VEGA Group PLC: Phil Cartmell 01707 391999 Sue Bygrave Smithfield: Reg Hoare 0207 360 4900 Tania Wild Print resolution images are available for the media to view and download from www.vismedia.co.uk Notes to Editors: About VEGA VEGA is a specialist professional services company. It provides independent consulting, technology and managed solutions, based on 30 years experience of specialist market and technological domains. This enables VEGA to offer independent expert advice and pragmatic support services in the effective implementation of business strategy. In doing so, VEGA helps its clients to identify business value, manage risk and realise higher levels of success from their programmes and projects. VEGA's principal markets are aerospace, defence and government. Its key geographies are the UK, Germany, Holland, France and Spain. CONSULTING - Offers advisory services to clients on the practical implementation of business strategy, often in the early stages of programme and project lifecycles. Services include: Business Consulting, Enterprise & Systems Architecture, Procurement and Capability Acquisition, Programme and Project Management and Information Security TECHNOLOGY - Develops innovative bespoke systems and tools, to support the successful execution of client programmes and projects; builds complex bespoke solutions. Services include Bespoke Systems, Secure Systems, Simulation Systems, Client and VEGA R&D. MANAGED SOLUTIONS - Provides teams of experienced, specialist practitioners to manage and implement client programmes. Services include Managed Services, Programme and Project Support, Science and Technology Research, Operations and Systems Engineering. AEROSPACE - Within the Aerospace market, VEGA supports scientific, commercial and military programmes worldwide and has been involved in almost every European Space Agency mission over the last 30 years. Clients include: European Space Agency, European Commission, French National Space Agency (CNES), German National Aerospace Agency (DLR), Inmarsat, EUMETSAT, EADS Astrium, Thales Alenia Space and SES Astra. On the military side, clients include BAE Systems, Thales, CAE and EADS, working on programmes like the Eurofighter and the UK Army's new UAV capability, Watchkeeper. DEFENCE - VEGA has a long track record of working alongside our defence clients to deliver strategically important defence information and communication systems as a trusted partner. We work with UK and European defence agencies and armed forces in the specification, acquisition, security, integration and deployment of network enabled capability to ensure that it delivers the operational benefits for which it is intended. Clients include the UK Ministry of Defence, mainly through Defence Equipment and Support (DE&S). Current projects include client-side support for the Defence Information Infrastructure (DII(F)) and Command Support Intelligence Systems (CSIS) Integrated Project Team (IPT). GOVERNMENT - VEGA is Catalist accredited and works with Government departments and agencies to ensure that transformation initiatives are conceived, implemented and integrated effectively and efficiently. We help our clients deliver citizen-centric services that operate with the necessary levels of accessibility and security. VEGA also works alongside the stakeholders of the UK Resilience and Critical National Infrastructure communities to ensure UK security at home and abroad. Clients include the Cabinet Office, Department of Communities and Local Government, Home Office, Foreign & Commonwealth Office, UK Emergency Services, Department of Trade and Industry and the Welsh Assembly Government. VEGA floated on the London Stock Exchange in 1992 at an issue price of 122p. VEGA is listed in the Software & Computer Services sector, and has a RIC code of VEG.L. This information is provided by RNS The company news service from the London Stock Exchange END IMSOKPKNFBKDPCK
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