Trading Statement
14 Mayo 2010 - 1:00AM
UK Regulatory
TIDMAXD
RNS Number : 9128L
Alexandra PLC
14 May 2010
Alexandra PLC
("Alexandra" or "the Group")
Trading Update
In the fourteen months to 31 March 2010 the Group generated revenue of
approximately GBP72 million (twelve months to 31 January 2009: GBP74.7 million).
Revenue has been impacted by the economic downturn which has resulted in a very
challenging and competitive environment with both existing and potential
customers delaying expenditure and seeking lower prices. In addition, the
reduced revenues, exposure to the strength of the US dollar and the delivery of
lower margin contracts won in previous years all contributed to a fall in the
gross margin from the position reported for the six months to 31 July 2009.
The impact of lower revenue and gross margin was partially mitigated by reduced
overheads following a significant reorganisation and cost reduction programme
within the Group. However, some key proposed actions have not yet been
undertaken due to the financial constraints imposed on the Group.
The Group has continued to incur significant exceptional professional fees
associated with the refinancing and restructuring of the Group.
The Board continues to drive change at the Group and has undertaken a
restructuring of the sales/customer service and supply chain elements of the
Group which has contributed to improved customer retention. In addition GBP2.3
million of new business has been won so far in 2010.
The Group's marketing capability has been enhanced and new branding was launched
at an industry show in April. Sales of redundant stock since 31 July 2009 have
exceeded GBP1.6 million and additional sales are in the pipeline. Further
initiatives in relation to training, property and the Group's supply chain are
being planned.
Although the trading performance in the fourteen months to 31 March 2010 was
disappointing, the Board believes that provided the planned equity fundraising
is completed the Group will be well placed to implement the further initiatives
referred to above and to seek to capitalise on the opportunities that exist
within its market.
This Trading Update has been prepared solely in compliance with the Disclosure
Rules and Transparency Rules of the UK Financial Services Authority and is not
audited. Statements in this Trading Update reflect the knowledge and information
available at the time of its preparation. Certain statements included or
incorporated by reference within this Trading Update may constitute
"forward-looking statements" in respect of the Group's operations, performance,
prospects and/or financial condition. By their nature, forward looking
statements involve a number of risks, uncertainties and assumptions and actual
results or events may differ materially from those expressed or implied by those
statements. Accordingly, no assurance can be given that any particular
expectation will be met and reliance should not be placed on any forward-looking
statement. Additionally, forward-looking statements regarding past trends or
activities should not be taken as a representation that such trends or
activities will continue in the future. No responsibility or obligation is
accepted to update or revise any forward-looking statement resulting from new
information, future events or otherwise. Nothing in this Trading Update should
be construed as a profit forecast. This Trading Update does not constitute or
form part of any offer or invitation to sell, or any solicitation of any offer
to purchase any shares in the Company, nor shall it or any part of it or the
fact of its distribution form the basis of, or be relied on in connection with,
any contract or commitment or investment decisions relating thereto, nor does it
constitute a recommendation regarding the shares of the Company. Past
performance cannot be relied upon as a guide to future performance.
-Ends-
Enquiries:
+------------------------------+------------------------------+
| Alexandra plc | 01454 876 003 |
| Tim Gifford, CEO | |
+------------------------------+------------------------------+
| Arden Partners plc | 020 7614 5900 |
| Richard Day, Fred Walsh | |
+------------------------------+------------------------------+
| | |
+------------------------------+------------------------------+
| Evolution Securities | 020 7071 4300 |
| Tim Worlledge, Adam Lloyd | |
+------------------------------+------------------------------+
| | |
+------------------------------+------------------------------+
| Pelham Bell Pottinger | 020 7337 1521 |
| Charles Goodwin | |
+------------------------------+------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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