React Group PLC Post year end trading update (9340Q)
24 Octubre 2019 - 01:00AM
UK Regulatory
TIDMREAT
RNS Number : 9340Q
React Group PLC
24 October 2019
24 October 2019
REACT GROUP PLC ("the Company" or "the Group")
Post year end trading update
React Group Plc (AIM: REAT.L), the leading specialist cleaning
and decontamination company, is pleased to update the market on an
improved year, making progress with the transformation of the
business in which margins and gross profits have improved and costs
have been streamlined.
The Company expects revenue for the financial year ended 30
September 2019 to be approximately GBP3.1 million (unaudited),
slightly lower than last year (GBP3.3 million), however gross
margins have materially improved; up more than 700-basis points to
just over 28% (21% in 2018), generating (unaudited) gross profit of
approximately GBP0.88 million, up c.28% from GBP0.69 million last
year.
Cash conservation continues to be a primary focus for the Group,
the net cash position as at 30 September 2019 was GBP440k, compared
to GBP423k at 30 September 2018.
With growth in gross profit, alongside greater control of costs
and cash management, the Company anticipates the final results will
demonstrate a material improvement on the prior year.
The Company expects to publish its audited results and Annual
Report in January 2020.
Gill Leates, Executive Chairman, commented:
"We have prioritised quality of earnings following the
restructuring of the business earlier in the year, focusing on
specialist cleaning and decontamination markets in which our
capabilities are strongest and most valued. This has led to
improvements in cost management, operating margins and cash
collection.
"Through the year we have built a strong team led by Shaun Doak,
Managing Director, who joined the Company in March 2019. Having
evolved the structure and focus of the business, the foundations
are now in place for further growth, and profitability."
For further information, please contact:
REACT Group PLC
Gill Leates - Executive Chairman 07799 662642
SPARK Advisory Partners Limited
Neil Baldwin 0113 370 8974
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Peterhouse Capital (Broker)
Duncan Vasey/Martin Lampshire 0207 459 0930
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END
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