Trading update (4239W)
31 Enero 2012 - 1:00AM
UK Regulatory
TIDMHGV
RNS Number : 4239W
Hasgrove PLC
31 January 2012
31 January 2012
Hasgrove plc
Full year trading update
Hasgrove plc (AIM: HGV, 'Hasgrove', or the 'Group'), the digital
and communication services group, is providing a trading update for
the year ended 31 December 2011.
Hasgrove expects to report gross income in the region of
GBP16.5m (2010: GBP16.0m) and a pre-exceptional operating profit of
approximately GBP0.8m (2010: GBP1.7m). These figures are in line
with the trading update provided on 18 November 2011.
The Group is encouraged by a number of significant projects for
key clients that began towards the end of 2011. These projects are
now in their main development phase and will be closely managed to
ensure both client service and profitability. The Group continues
to attract high quality opportunities and the pipeline is
strong.
Hasgrove has largely completed the restructuring of its digital
businesses following the sale of Interel, the public affairs and
strategic communications division, in July 2011. As a result there
will be an exceptional cost of GBP865,000 for the full year. No
further significant exceptional costs are anticipated.
Hasgrove's operating units continued to be cash generative,
resulting in net debt being reduced to GBP1.5m at 31 December 2011.
This figure benefited from advance payments from a number of
clients totalling GBP0.7m.
The Group expects to publish its full year results for the year
to 31 December 2011 in April 2012.
Paul Sanders, Group Chief Executive, said:
"2011 was a year of change for Hasgrove, resulting in improved
trading by the year end which has continued into the start of 2012.
We are focused on delivering a strong first quarter, which will
provide a platform for continued growth throughout 2012."
Enquiries:
Hasgrove plc
Paul Sanders, Group Chief
Executive 0161 242 5650
Stephen Collins, Group Finance
Director
Peel Hunt
Richard Kauffer/Daniel Harris 020 7418 8900
College Hill
Adrian Duffield/Rozi Morris 020 7457 2020
Notes to editors
Hasgrove plc is now a focused digital and communication services
business with over 280 employees. It serves a broad base of more
than 300 clients. Group companies are Amaze, Interact (formerly
Odyssey Interactive) and The Chase.
Amaze
Amaze is an integrated marketing and technology company,
specialising in global digital strategy and communications,
web-based business solutions and PR. It specialises in working with
central marketing teams to concept and deliver localisable
solutions.
In addition to being ranked 15th in the UK's Top 100 Interactive
Agencies by New Media Age, Amaze was ranked fifth in the website
design and build category for the second consecutive year. Amaze
was also positioned second in B2B Marketing's 2010 Marketing
Communications Agency League Table, ninth in Marketing's 2010
Digital Agency League Table and fifth in YouGov's Agency Reputation
Survey in 2010 Interact
Interact is a leading supplier of intelligent intranet software.
Founded in 1996. Interact is one of the fastest growing intranet
software companies and has built a solid reputation for both
product excellence and outstanding customer service. Organisations
using Interact Intranet report improved efficiency, greater
productivity, increased employee engagement, better decision-making
and cost savings.
The Chase
The Chase is a UK creative and design consultancy. Set up in
Manchester in 1986, the company also has offices in London and
Preston. The Chase is consistently one of the front runners in the
annual Design Week's creative league tables.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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