AGM Statement (3038Z)
12 Enero 2011 - 1:00AM
UK Regulatory
TIDMCAE
RNS Number : 3038Z
Charteris PLC
12 January 2011
12 January 2011
Charteris Plc ("Charteris" or the "Company")
AGM statement
The following statement will be made by the Chairman of
Charteris, Cliff Preddy, at the Company's Annual General Meeting to
be held at 10am today:
Management
The Company is pleased to announce the appointment of Allan Barr
as Chief Operating Officer. In this role Allan will be involved in
the day to day management of the Company from 1st February 2011
whilst the search for a new CEO is progressed. Allan has worked for
Charteris since 2008, most recently as Head of Operations and
previously as business unit head. He previously held senior roles
in business and technology companies, including Managing Director
of Flow Interactive Ltd, the user-centred design consultancy, and
Director of Barclays Solutions, a provider of in-house business
change consulting services to Barclays Bank plc.
Trading
In the Preliminary Announcement of Charteris results for the
financial year ended 31st July 2010 we reported that following the
improving trend in the final quarter of FY10, performance in the
first quarter of FY11 had been encouraging. We also noted that
there continued to be a tendency for clients to proceed cautiously
in the current economic environment. This factor is more pronounced
in our second quarter than envisaged, resulting in delayed sales in
some of our technology-based services. This and the inclement
weather in December are leading to lower than expected business
volumes in the second quarter. This will result in the business
incurring a small loss in the first half of FY11.
We have however seen growth in local and regional government as
we help councils meet the challenges of maintaining and enhancing
services within new budgetary constraints, and continuing activity
in the homeland security area. Also our business in the retail and
services sectors has seen renewed growth.
The pipeline of opportunities has continued to improve since the
year end. A plan has been initiated to enable the business to
return to a positive trading position in the second half which
among other things includes actions to give additional focus to the
conversion of sales prospects and further initiatives to reduce
costs.
Enquiries:
Cliff Preddy, Chairman Tel: 020 7600 9199
Charteris plc
Oriel Securities Limited (Nominated Tel: 020 7710 7600
Adviser)
Emma Griffin / Michael Shaw
This information is provided by RNS
The company news service from the London Stock Exchange
END
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