Red24 PLC Trading Update (3233L)
April 27 2015 - 2:00AM
UK Regulatory
TIDMREDT
RNS Number : 3233L
Red24 PLC
27 April 2015
RED24 PLC
(the "Group", "Company" or "red24")
Trading Update
red24, the crisis assistance company, is pleased to announce
that trading during the latter part of the year to 31 March 2015
continued to improve, particularly in the Group's consultancy and
special risk areas. As a result, the Board considers that the
Company's financial performance in the year to 31 March 2015 will
be ahead of Board expectations. The previously anticipated adverse
impact on results arising from the loss of a major client earlier
in the year (as announced on 18 August 2014), was successfully
mitigated as the Group worked hard to reduce costs and secure new
contracts with both existing and new clients.
There has also been a significant increase in the year end cash
balance with gross cash at GBP3.4M and net cash at GBP3.2M,
achieved through improvements in working capital management and the
better than expected financial performance.
The current financial year has started well with new contracts
with insurers in both the product safety and special risk areas.
The enhanced travel tracker product has been well received both by
existing clients and by a number of new clients and we anticipate
growth in sales of the product in the coming year. Recent sales in
Germany and Australia have also exceeded expectations and trends
indicate this is likely to continue.
Enquiries:
Red24 plc Tel: 0203 291 2424
Simon Richards, Chairman
Maldwyn Worsley-Tonks, Chief Executive Officer
finnCap Tel: 0207 220 0500
Julian Blunt, Corporate Finance
Tony Quirke, Corporate Broking
Yellow Jersey PR Ltd Tel: 07768 534641
Philip Ranger, Kelsey Traynor
About red24
Red24 is a crisis assistance company that provides a range of
security and business support services, offering preventative and
reactive advice to help organisations and individuals to avoid or
manage security and business risks to themselves, their families
and their businesses. Its products and services are distributed
through leading international financial service companies.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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